! Required information [The following information applies to the questions displayed below.] Mi-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment. Mi-T- M Corporation issues $490,000 of 8% bonds on January 1, 2021 to finance operations. The bonds are due in 10 years. Interest is paid semiannually on June 30 and December 31. Required: 1. If the market interest rate is 8%, the bonds will issue at $490,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal >