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required information [The following information applies to the questions displayed below) MI-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment. MI-T- M Corporation issues $540,000 of 7% bonds on January 1, 2021 to finance operations. The bonds are due in 10 years. Interest is paid semiannually on June 30 and December 31. 2. If the market interest rate is 8%, the bonds will issue at $503,306. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/e select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 3 Record the first semiannual interest payment. Note: Enter debits before credits Credit Date Debit 18,900 June 30, 2021 General Journal Interest Expense Cash MI-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment. Mi-T- M Corporation issues $540,000 of 7% bonds on January 1, 2021 to finance operations. The bonds are due in 10 years. Interest is paid semiannually on June 30 and December 31. 2. the market interest rate is 8%, the bonds will issue at $503,306. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (if no entry is required for a particular transaction/ever select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction tist Journal entry worksheet 1 2 3 > Record the bond issue. Note: Enter debits before credits General Journal Debit Credit Date January 01, 2021 Cash 540,000 540.000 MI-T-M Corporation is a leading designer and manufacturer of high quality Industrial equipment. Mi-T- M Corporation issues $540,000 of 7% bonds on January 1, 2021 to finance operations. The bonds are due in 10 years, Interest is paid semiannually on June 30 and December 31. 2. If the market interest rate is 8%, the bonds will issue at $503,306. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/ev select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 3 Record the second semiannual interest payment. Note: Enter debits before credits Debit Credit General Journal Dato December 31, 2021