B C D On January 1, 2021, Ibtesam Corp. issued $2,000 face value bonds at 101. These bonds pay interest at a 12% annual rate and pay interest twice a year, on June 30th and December 31st. The bonds have a 2-year life. 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2021 (3 points). 7 Cash Bonds Payable Premium 10 11 2. Prepare the journal entry to record the first interest payment on June 30, 2021 12 (3 points). 13 Interest Expense 14 15 16 17 3. Prepare the journal entry to record the second interest payment on 18 December 31, 2021 (3 points). 19 20 21 22 23 4. On December 31, 2021, Ibtesam Corp. retired the bonds at 99. Prepare 24 the journal entry to record the retirement (4 points). 25 Bonds Payable 26 Premium 27 28 2,000 Cash Gain + 29 30