Entries for issuing bonds and amortizing discount by straight-line method were issued at a market (effective) interest rate of 13%, resulting in Chin receiving cash of $22,173,375. a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) b. Determine the amount of the bond interest expense for the first year. x c. Why was the company able to issue the bonds for only $22,173,375 rather than for the face amount of $23,000,000 ? The market rate of interest is the contract rate of interest. Therefore, inventors willing to pay the full face amount of the bonds