? You decided to raise more capital for your business to help cover the cost of the additional contracts purchased in your

acquisition. Therefore, you issued a bond to raise capital for expansion. Your company also invested in a bond issued

by other entities as part of its investment portfolio. Use the following transactions to record journal entries:

On April $1,2021,$ ?you issued a $10-$year $$1,000,000$ ?face value bond at par value with a $5\%$ ?annual interest rate, payable

semi$-$annually.

On July $1,2021,$ ?you purchased a $6-$year $$500,000$ ?face value bond with a $12\%$ ?annual interest rate issued by XYZ

Corporation, payable annually.

Assume the market rate is $10\%$

On September $30,2021,$ ?your company paid semi$-$annual interest to bondholders.

Provide the journal entry to record the initial transaction of these bonds at their present value.