please help me on ex.14.06

Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Jacinto Company issued $6,500,000 of six -year, 7% bonds to finance its operations of producing and selling bome improvement products. interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 8%, resulting in Jacinto Compary receiving cosh of $6,194,985. a. Journalize the entnes to record the follhwing: 1. Issuance of the bonds. 2. First semannual interest payment. The bond discount amortization is combined with the semianinual interest payment. 3. Second semiannual interest payment. The bond discount amortization is combined with the semiannual interest payment. If an amount book does not require an entry, leave it blank. Round your answers to the nearest dollar. b. Determine the amount of the bond interest expense for the first veac, Round your answer to the nearest dollar. b. Determine the amount of the bond interest expense for the first year. Round your answer to the nearest dollar. c. Why was the company able to issue the bonds for only $6,194,985 rather than for the face amount of $6,500,000 ? The market rate of interest is the contract rate of interest