Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Jan 1 Cash Bonds Payable July 1 Interest Expense Bonds Payable Cash Dec. 31 Interest Expense Bonds Payable Interest Payable On January 1, 2021, Bonita Corp, issued five-year bonds with a face value of $370,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually. Click here to view factor tables