On the first day of its fiscal year, Chin Company issued $17,000,000 of five-year, 11% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 13%, resulting in Chin receiving cash of $15,777,966.a. Journalize the entries to record the following:Issuance of the bonds.First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.)Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.)If an amount box does not require an entry, leave it blank.1.Cash fill in the blank 19cb9903707bf8f_2fill in the blank 19cb9903707bf8f_3
Discount on Bonds Payable fill in the blank 19cb9903707bf8f_5fill in the blank 19cb9903707bf8f_6
Bonds Payable fill in the blank 19cb9903707bf8f_8fill in the blank 19cb9903707bf8f_9
2.Interest Expense fill in the blank 19cb9903707bf8f_11fill in the blank 19cb9903707bf8f_12
Discount on Bonds Payable fill in the blank 19cb9903707bf8f_14fill in the blank 19cb9903707bf8f_15
Cash fill in the blank 19cb9903707bf8f_17fill in the blank 19cb9903707bf8f_18
3.Interest Expense fill in the blank 19cb9903707bf8f_20fill in the blank 19cb9903707bf8f_21
Discount on Bonds Payable fill in the blank 19cb9903707bf8f_23fill in the blank 19cb9903707bf8f_24
Cash fill in the blank 19cb9903707bf8f_26fill in the blank 19cb9903707bf8f_27
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