Mysnhu Login Book Calculator Print Item Recording Bond Issuance Instructions Chart of Accounts General Journal Present Value Tables Instructions On January 1, 2016, Knorr Corporation issued $900,000 of 6%, 5-year bonds dated January 1, 2016. The bonds pay interest annually on December 31. The bonds were issued to yield 7%. Bond issue costs associated with the bonds totaled $10,68746 Required: Prepare the journal entries to record the following January 1, 2016 December 31, 2016 December 31, 2016 December 31, 2017 December 31, 2017 Sold the bonds at an effective rate of 7% First interest payment using the effective interest method Amortization of bond issue costs using the straight-line method Second interest payment using the effective interest method Amortization of bond issue costs using the straight-line method eBook Calculator Print Item How does ieroding work? PAGE 2016 PAGE 2017 GENERAL JOURNAL Score: 176/193 ACCOUNT TITLE POST. REF. Jan. 01 863.098.00 Cash Discount on Bonds Payable 36,901.78 900,000.00 Bonds Payable Deferred Bond Issue Costs 10.687.46 Cash 10,687.46 Interest Expense 60,416.88 Cash 54,000.00 Discount on Bonds Payable 6,416.88 Dec 31 Interest Expense Deferred Bond Issue Costs Points engageNOWv2] * M Gmail - Email from * Expedition learn ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Mysnhu Login Calculator Print Item How does groding work? PAGE 2016 PAGE 2015 PAGE 2017 GENERAL JOURNAL Score: 176/193 POST. REF. DEBI CREDIT ACCOUNT TITLE DATE 60.866.06 Dec. 31 Interest Expense Discount on Bonds Payable 6,866.06 54,000.00 Cash 2.137.49 interest Expense 2.137.49 Deferred Bond Issue Costs