Bone B sowunt, entries for Bonds Payable Transactions On July 1, Year 1, Livingston Corporation, a wholesaler af manutacturing equipment, issued i3,900.000 of 6 -yeat, 10% bonds at a marisot (cifective) interest rate of 12 . W. reciwing cast of 53,573,029. Intereat on the bonds is payabie semiannually on Docember 31 and June 30 . The fiscal year of the company is the calendar yeari. Requiredt 1. Joumaise the entry to record the amount of cash preceeds from the assuance of the bonds on July A, Year I. For a compound transaction, if an amount ber does not rmalip. an entry, leave it bionik 2. Joumalize the entries to record the folowing: for a compound transaction, if an amount box does not recuive an entry, leave it blank. Aound your aniwnt to the hearist. dolisis a. The first somannual interest nayment on December 3 .. Year 3 , and the ambrtization of the bend discount, using the straightiline method, b. The intereat payment an June 30, Year 2, and the amortitation of the bond discount, uang the straight-line method