Entries for issuing Boods and Amortizing Premium by Straight Line Method Smiley Corporation wholesales repair products to get madacturers. On April 1, 2011, Smiley issued 54,200,000 of 10 year, 12 bonds at market (effective interest rate of 9 receiving cash of 55,019.500. Interests Dayable semiannually on April und October 1 a journalize the entry to record the ante of bonds on Al 1. 2011. amount box does not require a trovi Bank b. Journalize the entry to record the first interest payment on October 1, 2011, and mortation of bond primum for six months on the straight line method found the Der est dollar. In ut box does not require an entry, towe it blank Why was the many able to the bonds for 15,010,00 than for the face wount 200.000 The market inte of interest is the contract rate of interest Entries for issuing Bonds and Amortizing Pre by Straight-Line Method Seraley Corporation wholesales repair products to equipment manufacturers On April 4, 2011, Smiley issued 54,200,000 a 10-year, in bands at a market (ellective) eterest rate of 9% receiving cash of $5,019,500, Interest is sayable semiannually on April 1 and October 1 a. Journalise the entry to record the Hsuance of bords on April, 201. If an amount box does not require an entry leave it bank boumalide the entry to record the first interest payment on October 1, 2011, and amortization of bond premium for six months, using the straight line method. Round to the nearest dollar. If an amount box does not require an entry leave blank 6. Why was the company able to the bonds for $5,019,500 rather than for the face amont of $4,200,0007 The market rate of interest the contract rate of interest greater than less than