Show Me How Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $10,000,000 of five-yea interest rate of 8%, resulting in Chin Company receiving cash of $9,594,415. r, 7% bonds to finance its operations of producing and selling home improvement products s . Interest is pavable semiannually. The bonds were isqued at a market (effctive) a. Journalize the entries to record the following: 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) 3. Second semiannual interest payment. The bond discount amortization, using the straight-line methad, is combined with the semiannual interest p payment. (Round your answer to the nearest dolar.) For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to the nearest dollar . Cash Discount on Bonds Payable Discount on Bonds Payable Cash Discount on Bonds Payable Cash Bonds Payable is aiwavs recorded at face valbos. Any diference in lasue price s reflected In a gremiuem or dlscouit account. Th interest expense for the first vear b. Determine the amount of the bond