vidual Behav Calculator Burning Fossil Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smiley issued 54,900,000 of 8-year, 8% bonds at market (effective interest rate of $5,859,541. Interest is payable semiannually on April 1 and October 1. receiving cash of a. Journalize the entry to record the issuance of bonds on April 1, Year 1. If an amount box does not require an entry, leave it blank b. Journalize the entry to record the first interest payment on October 1, Year 1, and amortization of bond premium for six months, using the straight-line method. (Round to the nearest dolar) if an amount box does not require an entry, leave it blank. c. Why was the company able to issue the bonds for $5,859,541 rather than for the face amount of $4.900,000? The Inarket rate of interest is the contract rate of interest. su test for an