Entries for Fssuing Bonds and Amortizing DLicount by Straight-Line Method Dn the first day of its fiscal vear, lacinto Company issued $24,100,000 of five-vear, 7% bonds to finance its operabons of producing and seiling home Improvement products. Interest is payabie semiannually. The bonds were issued at a market (effective) interest rate of 8%, resulting in lacinto Cempany receivi Calsh of 423,122,540. a. Journalize the entries to record the following: 1. Tssuance of the bonds. 2. First semiannuat interest payment. The bond discount amortization is combined with the semiannual interest paymenti 3. Second semiannual interest payment. The bond discount amortization is combined with the semiannual interest payment