On January 1 the first day of its fiscal year, Chin Company issued $25,100,000 of tve- payable semiannually The bonds were issued at a market (effective) interest rate of 7%, resating in Cin Company recen ng cash of $23,012565 year, 5% bonds to finance its operations of producing and seling home mprovement products Interests Required: A. Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account deles) 1. Issuance of the bonds 2. First semiannual interest payment The bond discount amortization, using the straight-line method, is combined with the semiannual interest payment (Round your answer to the nearest dollar) semiannual interest payment. The bond discount amortization, using the straight-line method, is combined with the semiannual interest payment (Round your answer to the nearest dollar) B. Determine the amount of the bond interest expense for the first year Explain why the company was able to issue the bonds for only S23012565 rather than for the face a mount of S25100000. eck My Work Previous Next Si 12:15 AM 12/7/2018