See all photos + Add to Entries for issuing Bonds and Among by Str u ine Method On the first day of its fiscal ye.Chin Company issund $10,000,000 of five year, 7% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective interest rate of 89, resulting in Chin receiving cash of $9.594,415. a. Journalte the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The band discount is combined with the semiannual interest payment. (Round your answer to the nearest dolla.) 3. Second semiannual interest payment. The band discount is combined with the seminal interest payment. (Round your answer to the nearest dolar) For a compound transaction, an amount box does not require an entry leave it a Round your answers to the nearest doll Problem #2 b. Determine the amount of the bond interest exper c. Why was the company able to The market rate of interest the bonds for only $9.5944 her than for the ta greater than/ less than