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A corporation issues $228000, 8%, 5-year bonds on January 1, 2017 for $237600. Interest is paid annually on January 1. If the corporation uses the

A corporation issues $228000, 8%, 5-year bonds on January 1, 2017 for $237600. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized in December 31, 2017's adjusting entry is $18240 $20160 $16320 $1920

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