Review the following three bonds payable assumptions:i (Click the icon to view the bond assumptions.)Journalize issuance of the bond and the first semiannual interest payment under each of the three assumptions. The company amortizes bond premiumand discount by the effective-interest amortization method. Explanations are not required. (Record debits first, then credits. Exclude explanations from anyjournal entries. Round your final answers to the nearest whole dollar.)Assumption 1. Ten-year bonds payable with face value of $89,000 and stated interest rate of 10%, paid semiannually. The market rate of interest is 10%at issuance. The present value of the bonds at issuance is $89,000.Journalize the issuance of the bonds when the market interest rate is 10%.DateAccountsDebitCredit