On May 1, 2021, Sage Hill Construction Ltd. issued $800,000 of 20-year, 6% bonds at 100. The bonds pay interest semi-annually on November 1 and May 1. Sage Hill has a calendar year end. (a) Record the issuance of the bonds on May 1, 2021.
(b) Record the first interest payment on November 1, 2021.
(c) Prepare any adjusting entry required at December 31, 2021.
(d) Record the second interest payment on May 1, 2022.

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