On January 1, 2015, Hogan Enterprises issued 8%, 20-year bonds with a face amount of $3,000,000 at 1

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On January 1, 2015, Hogan Enterprises issued 8%, 20-year bonds with a face amount of $3,000,000 at 101. Interest is payable semiannually on June 30 and December 31.

Instructions
Prepare the entries to record the issuance of the bonds and the first semiannual interest payment assuming that the company uses straight-line amortization.