Williams Mutual Insurance Company issued a 540,000. 4%, 10-year bond payable at 107 on January 1, 2018. Interest is paid semiannually on January 1 and July 1 Requirements 1. Journalize the issuance of the bond payable on January 1, 2018 2. Joumalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2018 Requirement 1. Journalize the issuance of the bond payable on January 1, 2018. (Record debits first, then credits Select explanations on the last line of the journal entry) Date Accounts and Explanation Debit Credit 2018 Jan 1