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can someone help with this? Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers, On Aprit

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Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers, On Aprit 1, 2016, Daan Corporation is5ued $7,500,000 of 10 -year, 12% bonds at a morket (effective) interest rate of 9%, receiving cash of $8,963,390, Interest is payable semiannually on April 1 and October 1 . a. Joumatize the entry to record the issuonce of bonds on Aprif 1, 2016. For a compound transoction, if an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first interest payment on October 1, 2016, and amortization of bond premium for six months, using the straight-line method. The bond premium amortization is combined with the semiannual interest payment. (Round to the nearest dollar.) for a compound transaction, if an amount box does not require an entry, teave it btank. c. Why was the company able to issue the bonds for $8,963,390 rather than for the face amount of $7,500,000 ? The morket rate of interest is the contract rate of interest

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