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need help with part B Entries for issulng Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On Aprit

need help with part B
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Entries for issulng Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On Aprit 1, 20Y1, Smiley issued $6,500,000 of 9 -year, 12\% bonds at a market (effective) interest rate of 10%, receiving cash of $7,259,823. Interest is payable semiannually on April 1 and october 1 . a. Journalize the entry to record the issuance of bonds on April 1, 20Y1. If an amount box does not require an entry, leave it blank. Feedback. TorakMy Wox Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premlum or discount account. The straight-fine method of amortization provides equal amounts of amortization over the life of the bond. b. Journalize the entry to record the first interest payment on October 1,20Y1, and amortization of bond prernium for six months, using the straight-line method. Round to the nearest dollar. If an amount box does not require an entry, leave it blank

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