During 2016 and 2017, Agatha Corp. completed the following transactions relating to its bond issue. The corporations fiscal year is the calendar year.

2016

Jan. 1	Issued $270,000 of 8-year, 5 percent bonds for $258,000. The annual cash payment for interest is due on December 31.
Dec. 31	Recognized interest expense, including the straight-line amortization of the discount, and made the cash payment for interest.
Dec. 31	Closed the interest expense account.

2017

Dec. 31	Recognized interest expense, including the straight-line amortization of the discount, and made the cash payment for interest.
Dec. 31	Closed the interest expense account.

Question: Prepare the journal entries for the above transactions