Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method $10,094,971. Interest is payable semiannually on April 1 and October 1 . 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 blank. the semiannual interest payment. (Round to the nearest dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank. c. Why was the company able to issue the bonds for $10,094,971 rather than for the face amount of $9,000,000 ? The market rate of interest is the contract rate of interest