(Issuance of Bonds between Interest Dates, Straight-Line, Retirement) Presented below are selected transactions on the books of Beacher Corporation. June 1, 2017 Bonds payable with a par value of $600,000, which are dated January 1, 2017, are sold at 98 plus accrued interest. They are coupon bonds, bear interest at 8% (payable annually at January 1), and mature January 1, 2027. (Use interest expense account for accrued interest) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount premium. (Use straight-line amortization) Jan. 1, 2018 Interest on the bonds is paid. August 1 Bonds with par value of $240,000 are called at 101 plus accrued interest, and retired. (Bond premium is to be amortized only at the end of each year)

Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized. Prepare journal entries for the transactions above. Round to the nearest dollar.