CengageNOW 2 Onlinex Assigmentassigmentando Tinker-tassignmentSessionLocaterinprogress-false 11-07-2X Cenagem Entries for issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $17,800,000 of the year, 6% bonds to finance cerations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market effective interest rate of resulting in Chin roving cash of $16.56,109 Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dolar) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar) an amount box does not require an entry, leave it blank 1. Cash Discount on Bonds Payable Bonds Payable 17.301,00 2. Interest Expense Discount on Bonds Payable Cash 3. Interest Expense Discount on Bonds Payable Cash b. Determine the amount of the bond interest expense for the first year 6. Why was the company able to issue the bonds for only $16,356,189 rather than for the face amount of 517,800,000 Previous Emai All work ved Show Al Man 15e_JEO No FM MacBook Air & 7 0 - 9 0 6 5 3 4 0 P U T > R E K L J H G D F N M . CengageNOW 2 Onlinex Assigmentassigmentando Tinker-tassignmentSessionLocaterinprogress-false 11-07-2X Cenagem Entries for issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $17,800,000 of the year, 6% bonds to finance cerations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market effective interest rate of resulting in Chin roving cash of $16.56,109 Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dolar) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar) an amount box does not require an entry, leave it blank 1. Cash Discount on Bonds Payable Bonds Payable 17.301,00 2. Interest Expense Discount on Bonds Payable Cash 3. Interest Expense Discount on Bonds Payable Cash b. Determine the amount of the bond interest expense for the first year 6. Why was the company able to issue the bonds for only $16,356,189 rather than for the face amount of 517,800,000 Previous Emai All work ved Show Al Man 15e_JEO No FM MacBook Air & 7 0 - 9 0 6 5 3 4 0 P U T > R E K L J H G D F N M
