Chart of Accounts Journal Final Questions Instructions On January 1, the first day of its fiscal year, Chin Company issued $25,100,000 of five year, 5% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 7%, resulting in Chin Company receiving cash of $23,012,565 Required: A Journelize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles) 1. Issuance of the bonds 2. First semiannual interest payment The bond discount amortization using the straight-line method is combined with the semiannual interest payment. (Round your answer to the nearest dollar) 3. Second semiannual interest payment The bond discount amortization, using the straight-line method, is combined with the semiannual interest payment (Round your answer to the nearest dolar) B. Determine the amount of the bond interest expense for the first year Check My Work 3 more Check My Work uses remaining