Entries for Issuing Bohits and Amortiging Premium by Straight-Line Method. Smiley Corperation wholesales repair prosutts to equipment manufacturers. On April 1, 20y1, 5miley issued 53,700,000 of 5-yeos, 8N, bends at a markat (effectre) interest rate of S\%, recelviog cash of 54,185,779. Interect is payable semiannically on April 1 and October 1. a. Joumalae the eniry to recare the astuance of bonds on Agnil 1, 20r1. If an anount box does not require an entry, leave it blank: The straightitine methed of atiertifation provides equal amaunts of amghtation ever ve ue of the bond. Entries for issuing flends and Amortizing Premium by Straight-Line Method miley Corporation wholetales repair products to equipment manufacturers. On April 1, 20Y1, Smiley issued 53,700,000 of 5 -year, 8% bends at a market (effective) interest rate of 5\%6, receiving cash of 54,185,739. Interest is payable semiannually on April i and October 1. a. Wournakize the entry to-record the issuance of bends on April 1, 20r1. If an amount box does not require an entry, leave it blank. hands Parable is ainays iecerced at face value. Any efference in iswe brice is reflected in a prenvium or discouns account. The straight-ine method ef amgrtiratien provides equal amounts of emortiation ever the lie of the bond. dollae. If an amount bor does not require an entry, levere it Bhank