Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method smiley Corporation wholesales repair pro cts to equipment manufacturers. On April : Year 1 Smiley Corp ration sued S20,000,000 o we veac 9% bonds at payable semiannually on Apeil 1 and October 1 market effective interest ate of 8% eceiving as of S20,811,01 tete tb a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave it Mank. Cash Premium on Bonds Payable Bonds Payable Check My werk Bands Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-Iine method of amertization prouldes equal smounts of amortization over the life of the bond t on October 1, 2016, and amortization of bond premium for six months, using the straight-line method. The bond premism amortization is combiced with the b. Journalize the entry to record the first interest payment (Round to the nearest dellar.) For a compound transaction, if an amount box diees not require an entry, leave it blank. Interest Expense Promium on Bonds Payable Cash emium or dlscount account. The straight-ine method ot amoritation provides aqua amounts of mertization ever the ife of Bonds Payable is always rscorded at face value. Any dilfereoce in issue price is refiected in a or c. Why was the company able issue the bonids for $20,811.010 rather than for the face amount of s20,000,00 The market rate of interest is less than the contract rate of interest Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method smiley Corporation wholesales repair pro cts to equipment manufacturers. On April : Year 1 Smiley Corp ration sued S20,000,000 o we veac 9% bonds at payable semiannually on Apeil 1 and October 1 market effective interest ate of 8% eceiving as of S20,811,01 tete tb a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave it Mank. Cash Premium on Bonds Payable Bonds Payable Check My werk Bands Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-Iine method of amertization prouldes equal smounts of amortization over the life of the bond t on October 1, 2016, and amortization of bond premium for six months, using the straight-line method. The bond premism amortization is combiced with the b. Journalize the entry to record the first interest payment (Round to the nearest dellar.) For a compound transaction, if an amount box diees not require an entry, leave it blank. Interest Expense Promium on Bonds Payable Cash emium or dlscount account. The straight-ine method ot amoritation provides aqua amounts of mertization ever the ife of Bonds Payable is always rscorded at face value. Any dilfereoce in issue price is refiected in a or c. Why was the company able issue the bonids for $20,811.010 rather than for the face amount of s20,000,00 The market rate of interest is less than the contract rate of interest