Wilbur Company borrowed money by issuing $2,500,000 of 8% bonds payable at 102.5 on July 1, 2021. The bonds are five-year bonds and pay interest each January 1 and July 1. Read the requirements. 1. How much cash did Wilbur receive when it issued the bonds payable? Journalize this transaction. When it issued the bonds payable, Wilbur received Requirements 1. 2. 3. 4. How much cash did Wilbur receive when it issued the bonds payable? Journalize this transaction. How much must Wilbur pay back at maturity? When is the maturity date? How much cash interest will Wilbur pay each six months? How much interest expense will Wilbur report each six months? Use the straight-line amortization method. Journalize the entries for the accrual of interest and the amortization of premium on December 31, 2021, and payment of interest on January 1, 2022