mon. 2014.10.000 meters of cashf 19.378,037. In allemaal on th 40.000 H H V NH V Huut. Entries for Issuing Bonds and Amorting Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, 201, Smiley issund $4,500,000 of 10-year, 12% bonds at a market (effective) interest rate of 9% # Jurnalise the entry to record the seance of hands on Apni 1.2071. If an amount box does not require an entry, Inave it blank. Cash 5.378.037 Premium on Bands Payable Bends Payable SODOOD b. Journalue the entry to record the first interest payment on October 1, 2001, and amortization of bond premium for six months, using the straight-line method. Round to the nearest da Interest Expense Premium on Bonds Payable Cash 88 c. Why was the company able to issue the bonds for $5,378,037 rather than for the face amount of $4,500,0007 The market rate of interest is less than the contract rate of interest