Lassie issues $400,000 fo 5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $359,607, when the market rate is 8%. 1. Indicate whether the bonds were issued at a premium or a discount and the amount of such premium or discount. (An example answer would be: 20,000 discount) 2. Prepare the journal entry to record the bonds' issuance. (Your answer should be formatted as follows: debit "account name" "amount"; credit "account name" "amount" - an example is: debit accounts receivable 20,000; credit sales 20,000. Keep in mind that more than two accounts may be included in the entry. If that is the case, you will have multiple accounts credited/debited causing your answer to look more like this: debit "account name" "amount": credit "account name" "amount": credit"account name" "amount") 3. Determine the total amount of interest expense to be recognized over the life of the bonds. 4. For the first interest payment date, determine the amount of interest expense to be recorded. 5. For the first interest payment date, determine the amount of amortization recorded for the premium or discount