and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds.* 2. Journalize the entries to record the following:* a. The first semiannual interest payment on December 31 , Year 1 , and the amortization of the bond premium, using the interest method. Round to the nearest dollar. b. The interest payment on June 30, Year 2, and the amortization of the bond premium, using the interest method. Round to the nearest dollar. 3. Determine the total interest expense for Year 1. *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. How does grading work? Points: 7/7 How does grading work? use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Question not attempted. Feedback Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. Final Question Shaded cells have feedback. 3. Determine the total interest expense for Year 1