Problem Three: On January 1, 2022, The Justice League issued $100,000, 5%, 20-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at .88443 to yield an annual return of 6%, as demanded by the marketplace. Required: Are the bonds issued at face value, a discount, or a premium? At date of issuance, is the market rate higher, lower or equal to the stated rate of 5%? Prepare the journal entries to record 1) the issuance of the bond on January 1 and, 2) interest payment and interest expense on June 30, 2022. Be sure to use the Effective Interest Method to compute interest expense. Date 1/1/22 Date 6/30/22 SE R E CF Account DR CR