hapter 11 Homework Amortize Discount by Interest Method on the first day of its fiscal year, Ebert Company issued S 14,000,000 of 5-year, 8% bonds to finance its operations. Interest is payable emiannually. The bonds were issued at (effective) interest rate of 10%, resulting in Ebert receiving cash of $12,918,914, The company uses the interest method. a. Journalize the entries to record the following: . Sale of the bonds. Round amounts to the nearast dollar. If an amount box does not raquira an entry, lave it blank. 11-02 Guided.Algo market 11-03. Guided.Algo 11-04. Guided. Algo X.11-05 Guided Algo x.11-06 Guided Algo X.11-12App.1 X.11-13 App.1.Algo X11-14 App 2 Guided.Algo X.11-15 App 2 Guided PR 11-01.Guided Algo R.11-04.App land-App.2.A.. 2. First semiannual intarest payment, induding amortization of discount. Round to the nearest dollar. If an amount bax doas not require an antry, leave it blank. 3. Sacond semiannual intarast paymant, including amortzaton of discount. Round to the nearast dollar. If an amount box does not raquira an antry, laave it blank. ? b. Compute the amount of the bond interest expense for the first year. Round amounts to the nearest dollar Annual interest paid Check My Work Previous Next rogress: 8/11 items save and Exit submit Assignment for Grading EN /2018