straight-line method wo of five-year, 10% provement products, (effective) interest int is to be recorded EX 14-6 Entries for issuing bonds and amortizing discount by straight-line. On the first day of its fiscal year, Keller Company issued $25,000,000 off bonds to finance its operations of producing and selling home improvem Interest is payable semiannually. The bonds were issued at a market (effen rate of 12%, resulting in Keller Company receiving cash of $23,160,113. a. Journalize the entries to record the following: 1. Sale of the bonds. 2. First semiannual interest payment. (Amortization of discount is to be annually.) 3. Second semiannual interest payment. 4. Amortization of discount at the end of the first year, using the straight-line (Round to the nearest dollar.) b. Determine the amount of the bond interest expense for the first year. c. Explain why the company was able to issue the bonds for only $23.160.112 than for the face amount of $25,000,000. for only $23,160,113 rather