estion 14 25 points On January 1, 2021, Globe Oils issued 8% bonds, dated January 1, with a face amount of $7.5 million. The bonds mature in 15 years. At the issue date, the market rate of interest for similar issues was 12%. Interest is paid semiannually on June 30 and January 1. Globe Oils uses Che effective-interest method to amortize the premium or discount. - Calculate the price of the bonds, rounded to the nearest dollar. Prepare the journal entry to record the bond issuance Prepare the journal entry to record the first interest payment. toolbar press ALT+F10 (PC) ALTHEN-F10 Ma Paragraph Anal v 10pt EVE AR~ I. x 33