To illustrate these events assume that on March 1,2001, Wells Corporation issues $1 million of 12%, 20 years bonds payable. These bonds are dated March 1,2001 and interest is computed from this date. Interest on bonds is payable semiannually,each September 1 and March 1. If all of the bonds are sold at par value what will be th journal entry to record the issuance of the bonds on March 1.