! Required information [The following information applies to the questions displayed below. On January 1, 2021, Splash City issues $480,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $515,708. 2. 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. Round your final answers to the nearest whole dollar.) No Debit Credit 1 Answer is not complete. Date General Journal January 01, 2021 Cash Discount on Bonds Payable Bonds Payable 447,385 $ 32,615 480,000