Cash Flow Effects of a Bond Premium On January 1, 2015, Datalink Inc. issued $100,000, 10%, 10-year bonds when the mate 89%. Interest is payable on June 30 and December 31. The following financial info Sales. Cost of sales Gross profit Interest expense hen the market ra rmation is of interes available 8000 12000 14500 8200 Other expenses.... Dec. 31, 2015 Jan. 1,2015 $55,000 87,000 60,000 $48,000 93000 58,000 nventory Accounts payable All purchases of inventory are on account. Other expenses are paid for in cash. Instructions: 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2015. 2. Compute (a) the amount of cash paid to bondholders for interest during 2015, (b) the amount of premium amortized during 2015, assuming Datalink uses the straight-line method for amortiang bond premiums and discounts, and (C) the amount of interest expense for 2015. 3. Prepare the Cash Flows from Operating Activities section of Datalink's statement of cash fosu using (a) the direct method and (b) the