Foreman Inc. issued $800,000 of 20-year, 10% bonds on January 1, 2014, at 102. Interest is payable

Question:

Foreman Inc. issued $800,000 of 20-year, 10% bonds on January 1, 2014, at 102. Interest is payable semi-annually on July 1 and January 1. The company uses the straight-line method of amortization for any bond premium or discount.
Instructions
(a) Prepare the journal entries to record the following:
1. The issuance of the bonds
2. The payment of interest and the related amortization on July 1, 2014
3. The accrual of interest and the related amortization on December 31, 2014
(b) Briefly explain how the entries would change depending on whether Foreman follows IFRS or ASPE?