Chapter 11 Homework eBook Show Me How Calulstor Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smiley issued S4,600,000 of -year, 896 bonds at a market (effective) interest rate of 7% racalving cash of $4,791,281. Interast is payable samiannually on April 1 and October 1. a. Journalize the entry to record the issu once of bonds on April 1, Year 1. [f an mount box doe? not require an entry, leave it blank. 1. EX.11-02 Guided.Algo 2. EX.11-03 Guided.Algo 3.EX.11-04.Guided.Algo 4. EX.11-05.Guided.Algo 5. EX.11-06 Guided.Algo 6. EX.11-12 App.1 7. EX.11-13 App.1.Algo 8. EX.11-14 App 2 Guided Algo 9. EX.11-15 App 2 Guided 10. PR 11-01.Guided Algo 11. PR.11-04 App 1.and App.2.A... b-Journalize the entry to record the first interest payment on October 1, Year 1, and mortization of bond premium for six months, using the straight-line method. (Round to the nearest dollar.) if an amount box doss not require an antry, eave it blank. c. Why was the compeny able to issue the bonds for 54.791,281 rather then for the face amount of $4.600.000? The market rate of interest is the contract rate of interest. Feediback Check My Work Previous Next Progress: 3/11 Items signment Score: 19.19 All work saved. Save and Exit Submit Assignment for Grading AM 6:11 5/4/2018lEN