Bond Discount, Entries for Bonds Payable Transactions On July 1, 2011, Livingston Corporation, a wholesaler of manufacturing equipment, Issued $6,700,000 of 10-year, 10% bonds at a market (effective) interest rate of 11%, recalving cash of $6,299,668. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, it an amount box does not require an entry, leave it blank 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2011, Cash 6,299.6 Discount on tonds Payable 00333 Bonds Payable 2. Journalize the entries to record the following a. The first manual interest payment on December 31, 2011, and the wortization of the bond discount, using the straight line method. Round to the nearest doar Interest Expense Discount on londe Payable Cash The interest payment on June 30, 2012, and the amortization of the band discount sing the straightine method. Hound to the nearest dollar Interest Expense But Bun Payable 3. Din the near for to the order 8. With and roce than the ocean what than the 5. Cam. 2. for them to und you to decimal and the sea Prezentate of the face amount POS Sorbonde