Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method sm ley Corporation wholesales repair products to equipment manufacturers. On April 1. Year 1, Smiley issued 20,000,000 of fiveye, 9% bo ds st- arket etter e neiere of receiving cash of $20,811,010. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, Year 1. For a compound transaction, if an amount box does not require an entry, leave it blank. the first interest payment on October 1, Year 1, and amortization of bond premium f for six months, using the straight-line method. (Round to the nearest b. Journalize the entry to record t dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank c. Why was the company able to issue the bonds for $20,811,010 rather than for the face amount of $20,000,0007 the contract rate of interest. The market rate of interest is Entries for Issuing and Calling Bonds; Loss Hoover Corp., a wholesaler of music equipment, issued $30,000,000 of 20-year, 8% September 1. The fiscal year of the company is the calendar callable bonds on March 1, Year 1, at their face amount, with interest payable on March 1 an year. Journalize the entries to record the following selected transactions: Year 1 Mar. 1 Issued the bonds for cash at their face amount Sept. 1 Year 3 Sept. 1 Paid the interest on the bonds. ed the bond issue at 101.5, the rate provided in the bond indenture. (Omit entry for payment of interest.,) 1 Calle Called the bond issue at 101.5, the rate provided in the bond indenture. (Omit entry for payment of interest.) Issued the bonds for cash at their face amount. Year 1 Mar. the interest on the bonds 1 Sept. 1 Called the band issue at 101.5, the rate provided in the bond indenture. (Omit entry for payment of interest.) For a compound transaction, if an amount box does not require an entry leave it blas Previous Show Me How Calculator Print lerm Journalize the entries to record the following selected transactions Year 1 Mar. 1 Sept. 1 Year 3 Sept. 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Called the bond issue at 101.5, the rate provided in the bond indenture. (Omit entry for payment of interest) Issued the bonds for cash at their face amount. Year 1 Mar. 1 Paid the interest on the bonds. Year 1 Sept. 1 lled the bond issue at 101.5, the rate provided in the bond indenture. (Omit entry for payment of interest.) For a compound transaction, if an amount box does not require an entry ave it blank Year 3 Sept. 1 Previous