ACCT 1210 Spring 2022 Question 5: Candle Lake Company issued $500,000 of 8%, 5-year bonds on January 1, 2021. The market rate of interest is 6%. Interest is payable semi-annually on June 30 and December 31 Instructions: Prepare the journal entries to record the following events: The issuance of the bonds on January 1 The payment of interest expense at June 30 The payment of interest expense at December 31 Round amounts to the nearest dollar. Show ALL calculations for full marks