On January 1, 2021. Plains, Inc. issues $2.700,000 in 10-year bonds that pay 7%, while bonds of similar risk and maturity are paying 8%. They pay interest semi-annually on June 30th and December 31%. They use the effective interest method to calculate interest expense. REQUIREMENT 17 points): Provide the number of compounding periods for the bonds Provide the interest rate per compounding period Provide the cash interest paid for one total interest payment Provide the total cash received at issuance for the bonds REQUIREMENT 2 (3 points): Prepare the journal entry to record issuance of the bonds on January 1, 2021 by Plains, Inc.: REQUIREMENT 3 (3 points): Prepare the journal entry to record the interest payment on June 30, 2021 by Plains, Inc