Entries for Issuing Bonds and Amortizing Discount by Straight$-$Line Method

On the first day of its fiscal year, Jacinto Company issued $$26,700,000$ of five$-$year, $8\%$ bonds $($effective$)$ interest rate of $9\%,$ resulting in Jacinto Company receiving cash of $$25,643,716.$

a$.$ Journalize the entries to record the following:

Issuance of the bonds.

First semiannual interest payment. The bond discount amortization is combined with the ser

Second semiannual interest payment. The bond discount amortization is combined with the

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