7Question 2 (5 marks) Perth Ltd issued $1 million in five-year bonds on 1 July 2021 (in a private placement). The bonds pay interest every six months at a rate of 6 percent per annum (3 percent every six months). At the time of issue, the market required a rate of return of 4 percent per annum. The bonds are accounted for using the effective-interest method Analyse the information provided for the bonds and determine the issue price (1 mark) Provide the journal entry to record the issue of the bonds on 1 July 2021. (1 mark) Date Accounts Debit ($) Credit ($) Provide the journal entry to record the interest expense and payment on 31 December 2021. (1 mark) Date Accounts Debit ($) Credit ($)