CHAPTERS 13,14,15 PROBLEM 1- SALE OF BONDS (10 Points) Borges Distributors sells snack and candy to local stores. On March 1, 2010, Borges issued $4,000,000 of 5-year, 13% bonds at an effective interest rate of 11%. Interest is payable semiannually on March 1 and September 1. Journalize the entries to record the following: a. Sale of bonds on March 1, 2010. Use the tables on present values in Appendix A of your textbook to determine the present value of the bond issue. Round to nearest dollar. b. First interest payment on September 1, 2010, and amortization of bond premium for six months, using the straight-line method. Round to the nearest dollar