Question 1 (21 Marks) Cruella de Vil Cars Limited issued $20,000,000, 5.0% bonds dated April 1, 2016. The bonds mature on March 31, 2021 (5 years). Interest is payable each September 30 and March 31. The bonds were sold on April 1, 2016 to yield an effective rate of 6.0%. Cruella de Vil Cars Limited has a March 31 fiscal year end. Required: 1 Were the bonds sold at a premium or discount (explain) 2. Give the entry for Cruella de Vil Cars Limited to record the sale of the bonds. 3. Assuming Cruella de Vil Cars Limited uses the effective interest method. Create a table for the first two payments and provide the required entries on September 30, 2016 and March 31, 2017