A corporation issues $$700000$ of $8\%,5-$year bonds on January $1,2027,$ for $$670600.$ 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 $31,2027\text{'}$s adjusting entry is

$$61880.$

$$5880.$

$$56000.$

$$50120.$