On January 1, 2019, Nancy Company issued a $1,000,000, 10-year, 6% coupon bond, with annual interest to be paid each December 31. The market rate of interest at the time the bond was issued was 8.75%.

What would be the amount that would be debited to cash upon the issuance of the bond?

What would be the amount that would be debited to the Discount on Bonds Payable upon the issuance of the bond?

How much amortization of the discount on bonds payable would be recorded in 2019, assuming the straight-line method is used?

How much interest expense would be recorded in 2019 (still assuming the straight-line method of amortization?

Thank you very much!