Sim Corporation sold $400,000 of 12 percent, 10-year bonds at face value on September 1, 2014. The issue date of the bonds was May 1, 2014. 1. Prepare the journal entries to record the sale of the bonds on September 1 and the first semiannual interest payment on November 1, 2014. 2. The companys fiscal year ends on December 31, and this is its only bond issue. What is the bond interest expense for the year ended December 31, 2014?