On the first day of its fiscal year, Ebert Company issued $20,000,000 of 5-year, 11% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 12%, resulting in Ebert receiving cash of $19,264,099. The company uses the interest method. a.  Journalize the entries to record the following: 1.  Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.   Cash        Discount on Bonds Payable        Bonds Payable       First semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.   Interest Expense    Discount on Bonds Payable    Cash  Second semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.   Interest Expense    Discount on Bonds Payable    Cash  Compute the amount of the bond interest expense for the first year. Round to the nearest dollar. Annual interest paid Discount amortized Interest expense for first year

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