2) on the first day of its fiscal year, chin company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. interest is payable semiannually. the bonds were issued at a market (effective) interest rate of 8%, resulting in chin company receiving cash of $9,594,415. interest payable 7/1, 1/1 1. journalize the entries to record the following: 1. issuance of the bonds. 2. first semiannual interest payment. the bond discount amortization is combined with the semiannual interest payment. round your answer to the nearest dollar.