The John Group, on January 1, 2020, issued $10,000,000 of 10% bonds, dated January 1. Interest is payable semiannually on June 30, and December 31. The bonds mature in four years. The market yield for bonds of similar risk and maturity is 11%. Required: 1. Determine the price these bonds issued to yield the 11% market rate and record their issuance by the John Group. 2. Prepare an amortization schedule that determines interest at the effective rate and record interest on the first and second interest dates, June 30 and December 31, 2020,