Romulus, Inc., issued $500,000 of 10%, five-year bonds at face value on July 1, 2021. Interest on the bonds is payable semiannually on December 31 and June 30. 1. Provide the journal entry to record the issuance of the bonds on July 1, 2021. If an amount box does not require an entry, leave it blank. July 1 2021 Cash Bonds Payable 500,000 500,000 2. Provide the journal entry made on December 31, 2021, to account for these bonds. If an amount box does not require an entry, leave it blank. Dec. 31 2021 Bond Interest Expense Cash 25,000 25,000 3. On September 30, 2022, Romulus elected to retire the bonds early. The market price of the bonds on this date was $486,000. Provide the journal entries to record the early retirement. If an amount box does not require an entry, leave it blank. Sept. 30 2022 Bonds Payable Cash Bonds Payable Cash Gain on Bond Retirement 500,000 486,000 14,000