Show Me How Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method Print Item On the first day of its fiscal year, Chin Company issued $14,100,000 of five-year, 10% bonds to finance its operations of producing and selling home improvement payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Chin receiving cash of $13,568,592. a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) If an amount box does not require an entry, leave it blank. 1. Cash 13.568592 Discount on Bonds Payable 531,400 Bonds Payable 14.100,000 2. Interest Expense 746.273 X Discount on Bonds Payable 41.543 X 705,000 3. Interest Expense 745543 X Discount on Bonds Payable 43.543 X Cash 705,000 Feedback Check My Work Check My Work