Problem 10.5B Lake Company obtained authorization to issue 10-year bonds with a face value of $50 million. The bonds are dated 1 June 2013, and have a contract rate of interest of 6%. They pay interest on 1 December and 1 June. The bonds are issued on 1 September 2013, at 100 plus three months' accrued interest. Instructions: Prepare the necessary journal entries in general journal form on:- a. 1 September 2013, to record the issuance of the bonds. b. 1 December 2013, to record the first semiannual interest payment on the bond issue. C. 31 December 2013, to record interest expense accrued through year end. d. 1 June 2014, to record the second semiannual interest payment. e. What was the prevailing market rate of interest on the date that the bonds were issued? Explain