Social D, Inc. issues 5%, 30-year bonds with a par value of $1,000,000 on January 2, 20XX when the market rate is 4.5%. The company pays interest semi-annually on June 30 and December 31. The company received $1,150,000 at issuance. Prepare the journal entries to record the issuance of the bond and the first interest payment using straight-line amortization. (Round to the dollar) (10 points)