Lincoln Machine Tool, Inc., issued $540,000 of 20year, 5 percent bonds payable on January 1 Lincoln Machine Tool, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method. Lincoln Machine Tool, Inc., can issue its bonds payable under various conditions: (Click the icon to view the conditions.) Read the requirements on Requirement 1. Journalize Lincoln Machine Tool's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Record the issuance of the bonds payable at par value Journal Entry Accounts Debit Credit Date Jan 1 Question Viewer X i More Info d a. Issuance at par value b. Issuance at a price of $460,000 when the market rate was above 5 percent c. Issuance at a price of $600,000 when the market rate was below 5 percent Print Done Lincoln Machine Tool's issuance of the bonds and first semiannual interest payment for each Requirements 1. Journalize Lincoln Machine Tool, Inc.'s issuance of the bonds and first semiannual interest payment for each situation. Round calculations to the nearest dollar. Explanations are not required. 2. Which condition results in the most interest expense for Lincoln Machine Tool, Inc.? Explain in detail. Print Done