Bond Discount, Entries for Bonds Payable Transactions semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year. Required: Festbock Bonds Payable is always recorded at face value. Any difference in is8ue price is reflected in a premium or discount account. 2. Joumalize the entries to recard the following: If an amount box does not require an entry, leave it blank. Round vour answer to the nearest dollar. a. The first semiannual interest payment on December 31 , Year 1 , and the amortization of the bond discount, using the straight-line method. Fendend T Check hy wherk Bonds Payable is atways recorded at foce value. Any differenoe in issue price is reflected in a premiurn or disoount acocunt. The straight-line method of amortization provides equal amounts of amortization over the life of the bond. 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. The straight-line method of amortization provides equal amounts of amortization over the life of the bond. 3. Determine the total interest expense for Year 1. Round to the nearest dollar