On January 1, 2021, BlueJay Corp. issued a $150,000, 5%, five-year bond. Interest is to be paid annually each January 1st. a) How much interest will be paid each year on the bonds? b) Calculate the issue price of the bonds assuming a market interest rate of 4% on the date of the bond issue. c) Record the journal entry that would be made to record the bond's issuance.