A firm issued a 8%, $10,000 bond issued and dated 1-1-X1, maturing in ten years, paying interest each June 30 and December 31, and yielding 10%.One bond is used for simplicity. Required: Show your work. 1) Prepare the journal entries for:BE SURE AND WRITE THE ACCOUNT NAME AND DR FOR DEBIT OR CR FOR CREDIT BY IT. a) Issue date b) 1st interest payment date. 2) What if the bond is retired after the 2nd interest payment is made, and the current market interest rate is 12%? Prepare the journal entry for the retirement, BE SURE AND WRITE THE ACCOUNT NAME AND DR FOR DEBIT OR CR FOR CREDIT BY IT. HTML Editore A. IE11 x x