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Bond Premium, Entries for Bonds Payable Transactions Campbell Inc. produces and sells outdoor equipment. On July 1 Year 1 ampbell issued $87 40 00 or 10-year, 11% bonds at a market effect vej interest ate of %, receiving cash of $92,846,029. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required: If 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, Year 1 Cash 92,846,029 Premium on Bonds Payable V 5,446,029 Bonds Payable 87,400,000