Question #3. 18 marks Account balances and information relating to bonds payable during the year: Beginning of year End of year B/P $80,000 $60,000 Premium on B/P 12,000 9,000 Bonds with a par value of $20,000 were issued at 101 for land. Bonds with a par value of $40,000 were retired. The amount paid was $50,000, and a loss of $6,000 was sustained.' Required: Prepare all the journal entries related to the B/P transactions. That is, prepare JEs for the issue for land, interest expense (if any), and retirement