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Question 1 (7 points) Saved On January 1, 2021, Franco Company issued $300,000 of three-year,...

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Question 1 (7 points) Saved On January 1, 2021, Franco Company issued $300,000 of three-year, 6% bonds when the issue price was $296,546. The bonds pay interest semi-annually on June 30 and December 31. The annual market interest rate at the date of issuance was 10% Required: (round all answers to the nearest whole dollar) Prepare the general journal entries for the a) Issuance of the bonds on January 31, 2021. (2 marks) b) Payment of interest on June 30 2021 assuming the effective interest method

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