Entries for issuing songs and amuruny MILVY STE MVU Instructions Chart of Account Journal Final Questions Instructions On January 1, the first day of its focal year. Chin Company oued 510,000,000 of five year, 7% bonds to finance its operation of producing and selling home improvement products, Interest is payablo semunnunty. The bonds were found at a market (ellective) interest rate of 8%, resulting in Chin Company receiving cash or 80,404416 Required: A Joumalize the entries to record the following frofor to the Chart of Accounts for exact wording of account ones 1. Issuance of the bonds 2 First semiannual interest payment. The bond discount amortization, using the straight line method is combined with the semiaruanderwat payment (Round your answer to the nearest dollar) 3. Second Semiannual interest payment. The bond discount amorturation, using the straight-one method is combined with the semiannual Interest payment (Round your answer to the nearest dollar) B. Determine the hount of the band interest expense for the first year C Explain why the company was able to issue the bands for only $9,594,415 rather than for the face amount of $10,000,000 Ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false Bock Show Me How Print Item Entries for issuing bonds and amortizing discount by straight-line method Instructions Chart of Accounts Journal Final Questions Instructions On January 1, the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually The bonds were issued at a market (effective) interest rate of 8%, resulting in Chin Company receiving cash of $9,594,415. Required: A Journaize the entries to record the following (refer to the Chart of Accounts for exact wording of account ties) 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount amortization, using the straight-line method is combined with the serial interest payment. (Round your answer to the nearest dollar) 3. Second semiannual interest payment. The bond discount amortization, using the straight-line method is combined with the semiannual interest payment. (Pound your answer to the nearest dollar) a. Determine the count of the band interest expense for the first year C Explain why the company was able to issue the bonds for only $9.594,415 rather than for the face amount of $10,000,000 Next Check My Work 2 more Check My Work uses remaining Suami Assim for Gradin