Bond Discount, Entries for Bonds Payable Transactions On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $1,300,000 of 5 -year, 11% bonds at a market (effective) interest rate of 12 . recelving cash of $1,252,153. 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, if an amount box does not require an entry, leave it blank: 1. Jourmalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31,201, and the amortization of the bond discount, using the straight-line method. Round to the nearest dollar, b. The interest payment on June 30,20Y2, and the amortization of the bond discount; using the straight-line method. Round to the nearest dollar. 3. Determine the total interest expense for 20Y1. Round to the nearest dollar