BOND PRICING #2 for Borrowing Money Inc Borrowing Money Inc (BMI) issues a bond on January 1, 2021 with a face value of $400,000. The bond has an 7 year maturity date and requires SEMI ANNUAL Interest payments. The bond's stated interest rate is 3% and the current market interest rate is 2%. Hint: remember to set your expectations PV tables will be needed. Do not round your PVIF, but you may round answers to whole dollars. Required: Prepare the journal entry (in proper form) at issuance of this bond for BMI. Include your journal for grading on your PDF upload. Your multiple step calculations must also be shown ... No work = No Credit To get a preliminary idea of how you did you may enter your calculated amount for cash received at issuance Bond Pricing #2, cotinued Regarding the bond issued by BMI above REQUIRED (5 points) Prepare (in good form) the Semi Annual journal entry needed to be recorded by BMI for the cash payment required Upload your journal and calculations on your PDR REQUIRED (3 points) What is the ANNUAL interest expense related to this bond