On January 1, when the market rate of interest was 5% for similar bonds, a company issued

Question:

On January 1, when the market rate of interest was 5% for similar bonds, a company issued a $15,000,000, 5%, 10-year bond that pays semiannual interest on June 30 and December 31, receiving cash of $15,000,000. Journalize the entries to record
(1) The issuance of the bonds and
(2) The first interest payment.