20 Minutes. 10 Marks.) WC On January 1, 2021, WC, a private company using accounting Standards for enterprises, issued $1,000,000 of 10-year bonds with a 12% stated interest rate payable on July 1 and January 1. The bonds were sold to yield 14%. WC uses the to account for bonds. Instructions a. Prepare the journal entry to record the issuance of the bonds. (A Marks) b. Prepare the journal entry(ies) to record interest expense for the six months ences June 30, 2021 assuming WC uses the straight-line method to amortizer premium or discounts. (4 Marks) c. Compute interest expense for the year ended December 31, 2021 1 the effective interest method is used. (2 Marks)