Problem # 2 - BOND ISSUANCE 2.1 A company issued 8%, 5-years bonds with a par value of $1,000,000 on June 30, when the market rate was 8%. Interest is paid semiannually on December 31 and June 30. (a) Prepare the issuer's journal entry to record the issuance of the bonds on June 30. (b)Prepare the issuer's journal entry to record the semiannual interest payment on December 31, Year 1. SHOW YOUR WORK Date Account Debit Credit