The Phil company issued a $1,000 face value bond for $970 on January 1,2016 . The bond pays interest at 12% and comes due in 5 years. Amortization is handled using the straight line method. Interest is paid semiannually on June 30 and December 31. Requiredi.Make the journal entries, debit and credit, for each of the 2 dates below. Lanuary 1,2016 June 30,2016 The Phil company issued a $1,000 face value bond for $970 on January 1,2016 . The bond pays interest at 12% and comes due in 5 years. Amortization is handled using the straight line method. Interest is paid semiannually on June 30 and December 31. Requiredi.Make the journal entries, debit and credit, for each of the 2 dates below. Lanuary 1,2016 June 30,2016