On 1st July 2014, Fatima Corporation issued $30,000,000 of 10-year, 9% bonds at a market interest rate of 7%, receiving cash of $32,842,560. Interest is payable semiannually on May 1 and November 1. Journalize the entries to record the following: a. Issuance of bonds on 1st July 2014. b. First interest payment on December 30th, 2014, and amortization of bond premium for six months, using the straight-line method. (Round to the nearest dollar.) c. Explain why the company was able to issue the bonds for $32,842,560 rather than for the face amount of $30,000,000.