A corporation issues $300,000, 10%, 5-year bonds on January 1, 2020, for $287,400. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is $2,520 O $27,480. $32.520. O $30,000.