Question 5 (10 points) ACCT-2043 Winter 2020 vilia Smith Ltd. issued $500,000 of 5%, 5 year bonds for $478,674 on January 1, 2019, the day the bonds were dated. The market rate on this date was 6%. Interest is paid semi-annually on June 30 and December 31. The effective interest method is used to allocate the interest. Required: Note: Round all answers to the nearest dollar a Prepare the journal entry required to record the issuance of the bond. (2 marks) b. Prepare the journal entries required to record the first and second interest payments. (8 marks)