Question 1 30 Points 243) On January 1, 2021, Water Mania issues $1,000,000 of 6% bonds, due in ten years, with interest payable semi-annually on June 30 and December 31 each year. Required: 1. If the market interest rate is 6%, the bonds will issue at $1,000,000. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. 2. If the market interest rate is 7%, the bonds will issue at $928,938. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. 3. If the market interest rate is 5% the bonds will issue at $1,077,946. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021