Question: 1. Record the bond issue. 2. Record the first semiannual interest payment. 3. Record the second semiannual interest payment. On January 1, 2021, Universe of

1. Record the bond issue.

2. Record the first semiannual interest payment.

3. Record the second semiannual interest payment.

On January 1, 2021, Universe of Fun issues $860,000, 9% bonds that mature in 20 years. The market Interest rate for bonds of similar risk and maturity is 10%, and the bonds issue for $786,216. Interest is paid semiannually on June 30 and December 31. 2. & 3. Record the issuance of the bonds on January 1, the interest payments on June 30, and December 31, 2021 (If no Journal entry is required for a particular transaction, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar amount.)

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