Entries for sing tonds and Amorting Premium by Straight Line Method Favreau Corporation wholesales repair products to equipment manufacturers Onli, Year I Favreau Corporationed $8,000,000 of 9 year, bonde at a market (elective) . interest rate of receiving ash of $9,889,317 Interestis peable semuannually on April 1 and October #. Journal the entry to record the sunce of bond on April 1. If an amount box does not require an entry leave it blank. 99317 1231 0.000 1. Sure the entry to record the first interest payment on October 1 and amortization of bond premium for six months, wing the straight line method. The bond premium amortation is comuned with the woman est payment Hound to the nearest dollar. If an amount box does not require an entry, leave it blank Interese pense Case 255.000 Why was the company able to see the bonds for $9,889,317 rather than for the face amount of $8,600,0007 The market rate of interestis the contract rate of interest