E10.15 (LO 3), AP Mobbe Company issued $500,000, 15-year, 7% bonds at 96. Prepo balar of de Instructions a. Prepare the journal entry to record the sale of these bonds on January 1, 2022. b. Suppose the remaining Discount on Bonds Payable was $12,000 on December 31, 2027. Show the balance sheet presentation on this date. c. Explain why the bonds sold at a price below the face amount. E10.15 (LO 3), AP Mobbe Company issued $500,000, 15-year, 7% bonds at 96. Prepo balar of de Instructions a. Prepare the journal entry to record the sale of these bonds on January 1, 2022. b. Suppose the remaining Discount on Bonds Payable was $12,000 on December 31, 2027. Show the balance sheet presentation on this date. c. Explain why the bonds sold at a price below the face amount