Presented below are two independent situations. E 1. On January 1, 2020, Sarasota Company issued $216,000 of 8%, 10-year bonds at par. Interest is payable quarterly on April 1. July 1, October 1, and January 1 On June 1, 2020, Ivanhoe Company issued $168,000 of 12%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. 2. For each of these two independent situations, prepare journal entries to record the following. Of no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) The issuance of the bonds. (b) The payment of interest on July 1. (c) The accrual of interest on December 31. 2. Ivanhoe Company: 6/1/20 Cash 175000 Bonds Payable 168000 Interest Expense 7/1/20 Interest Expense Cash 12/31/20 Interest Expense Interest Payable