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A corporation issues $345000, 8%, 5-year bonds on January 1, 2017 for $359400. Interest is paid annually on January 1. If the corporation uses the

A corporation issues $345000, 8%, 5-year bonds on January 1, 2017 for $359400. 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 $2880. O $24720. O $27600. O $30480

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