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4. On January 1, 2017 Alliance Corporation issued five-year SI,000,000, 0% hnd at 95 ($950,000) representing a discount at time of sale of $50,000 Interest is paid annually o December 31. The market rate of interest is 8% (8 marks) Required a) Prepare the journal entry to record the issuance of the bond at January 1, 2017 b) Using the effective interest rate method, prepare the expense at December 31, 2017 journal entry to recognize the interest c) What is the carrying value of the bond at December 31,2017 and January 1,2022 (the maturity date)