/takeAssignment/takeAssignmentMain.doFinvokeretakeAssignmentSessionLocatorinprogresswfalse NCHSAnywhere - eBook Show Me How Calculator Print item Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $1,300,000 of 4-year, 8% bonc at a market (effective) Interest rate of 7%, receiving cash of $1,344,682. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, If an amount bax does not require an entry, dom it blank. b. Journalize the entry to record the first interest payment on October 1, 2016, and amortization of bond premium for six months, using the straight- line method. The bond premium amortization is combined with the semiannual interest payment. (Round to the nearest dollar) For a compound transaction, if an amount box does not require an entry, leave it blank. c. Why was the company able to issue the bonds for $1.344,682 rather than for the face amount of $1.300.000 The market rate of interest is the contract rate of interest IG_0567 og IMG_0566.jpg DE FACE SHEETIMH Chet Orientation par 3:54 o 0