Jashanpreet Industries Limited (JIL) issued $1,800,000,8%,20-year bonds on January 1,2021 and received proceeds of $2,200,000. Interest is payable semiannually on July 1 and January 1. JIL's year-end is December 31. Assume the market rate for similar bonds is 6%. Instructions a) Prepare all necessary journal entries for JIL during 2021 . b) Prepare a partial balance sheet for TIL on December 31, 2021, showing all areas affected by this bond transaction