tries for issuing bonds and amortizing premium by straight-line method niley Corporation wholesales repair products to equipment manufacturers. On April 1, 20Y1, 5miley issued $3,800,000 of 9 -year, 12% bonds at a market (effective) interest rate of 11%, rec sh of $4,013,676. Interest is payable semiannually on April 1 and October 1. Journalize the entry to record the issuance of bonds on April 1, 20Y1. If an amount box does not require an entry, leave it blank. Feediback Theck My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the life of the bond. Journalize the entry to record the first interest payment on October 1, 20Y1, and amortization of bond premium for 6 months, using the straight-line method. Round to the nearest dolla nount box does not require an entry, leave it blank. Feedback 7 Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the life of the bond