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JournalAdditional Question Final Question Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda...

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JournalAdditional Question Final Question Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda i (effective interest rate of 7%, receiving cash of $23,829,684. Interest is payable semiannually. Shunda's fiscal year begins company uses the interest method. ssued $22,000,000 of five-year, 9% bonds at a market on January 1. The Required: a. Journalize the entries to record the foliowing transactions. Refer to the Chart of Accounts for exact wording of account titles 1. Sale of the bonds. 2. First semiannual interest payment, including amortization of premium. Round to the nearest dollar. 3. Second semiannual interest payment, including amortization of premium. Round to the nearest doliar b. Determine the bond interest expense for the first year. c. Explain why the company was able to issue the bonds for $23,829,684 rather than for the face amount of $22,000,000. 2 more Check My Work uses remaining ) 11/8/

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