I. Grand Company authorized $300,000 of 10-year bonds dated January 1,20017. The stated rate of interest was 8%, payable semi-annually. The bonds were issued on January 1, 2017, when the market interest rate was 6%. (10 points) a. Calculate the amount that was received when the bonds were issued. b. Prepare the journal entry for the issuance of the bonds c. Prepare the journal entry for the first interest payment