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Recording in the Accounting System Journalize the first interest payment and the amortization of the bond discount on June 30, 2014 Round your answers to the nearest whole dollar amount. If an amount box does not require an entry, leave it blank. When bonds sell at a discount, the semi-annual interest expense reported in the income statement will be bondholders. the semi-annual cash interest paid to Financial Statement Impact On July 1, 2014 Botwin Company issues $1,000,000, 10%, bonds payable. Click here and use the sliders provided for the market rate of interest and the number of semi- annual periods to answer the following questions. 1. If the bonds have a 10-year term and are issued when the market rate of interest is 12%: a. How much semi-annual interest expense will the company report every six months? b. How much of the bond discount will the company amortize every six months? c. How much cash interest will the company pay to bondholders every six months? d. If the market rate of interest remains constant, and the number of periods decreases, the semi-annual discount amortization will 2. If the bonds have a 5-year term and are issued when the market rate of interest is 14%