Amortize discount by interest method

a$.$ Journalize the entries to record the following:

Sale of the bonds, Round to the nearest dollar. If an amount bou does not require an entry, leave it blank.

Feetrack

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Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account.

First semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount bou does not require an entry, leave it blank.

b$.$ Compute the amount of the bond interest expense for the first year. Round to the nearest dollar.

Annual interest paid

Discount amortized

Interest expense for first year

c$.$ Explain why the company was able to issue the bonds for only $$19,417,090$ rather than for the face amount of $$21,000,000,$