On the finst day of its fiscal year, Jacinto Company issued $28,600,000 of five-year, 104 bonds to finance its operations of producing and salling home improvement products. Interest is paybble semiannually. The bonds were issued at a market (effective) ioterest rate of 12%, resulting in Jacinto Compary receiving cash of s26,494, 883 . a. Journalize the entries to record the following: 1. Issuance of the bonds: 2. First somiannual interest payment. The bond discount amortization a combined with the semiannual interost poyment. 3. Second semiannual interest povment. The bond discount amortization is combined with the semiannual interest poyment. If an amount box does not require an entry, leave it blank. Round your answers to the nearest dollar. b. Determine the amount of the bond intereit expense for the fist yeor, Round your answer to the nearest dollar, c. Why was the compary abie to wive the bonds for enly s26,494, B83 rather than for the face amount of 128,600,000 ? The market rate of interest is the contract rate of interest