Question 2 (10 marks) On l March, Year 1, Hubbard Co. issues at a price of 100 $30 million of 8%, 25-year bonds payable.Interest is payable semiannually cach 1 March and 1 September. What is the amount of cash paid to bondholders for interest during year 1? (2 marks) (a) Prepare the adjusting entry necessary for the year ended 31 December, Year I.regarding this bond issue. (Explanation for journal entry is NOT required) (4 marks) (b) Dr S Date Account Cr $ 31 Dec Year 1 Bonds Interest Expense Bonds Interest Payable (2 marks) Year 1, includes bonds payable of (2 marks) and interest payable of