On January 1, 2020, ABC issues 12%, 2-year bonds with a face value of $100,000. Coupons are payable semi-annually on June 30 and December 31, and the bond will be repaid on December 31, 2021. The market rate of interest on the date of issue is 10%, compounded semi-annually. What is the issue price of the bonds on January 1, 2020? What is the journal entry to record the issuance? What will be the interest expense every period and ending bond liability at the end of every interest period? What is the interest expense that will be reported on the income statement for the year ended December 31, 2020? How will the bond liability appear on the balance sheet as of December 31, 2020?