XYZ Corporation issued $10,000,000 of 5 year, 7% bonds on May 1 of the current year at face value, with interest payable semi-annually on May 1 and November 1. The bonds were issued at a market interest rate of 8%, resulting in XYZ Corporation receiving cash of $9,594.415. Journalize the entries to record the following transactions: Issuance of the bonds on May 1 Paid the first semi-annual interest on the bonds on November 1