Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturersOn April 1, 2016, Daan Corporation issued $1,800,000 of 5-year, 8% bonds at a market (effective interest rate of 7%, receiving cash of $1,874,850, Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, it an amount box does not require an entry, leave it blank D. Journalize the entry to record the first interest payment on October 1, 2016, and amortization of bond premium for six months, using the straight-line method. The bond premium amortization is combined with the manual interest payment. (Round to the nearest dollar) For a compound transaction, if an amount box does not eures entry leave it bank Why was the company able to the bonds for 51,874,850 rather than for the fact amount of $1,000,000 the contract rate of interest The mate of interest