Need assistance with this problem.

On January 1, 2016, Knorr Corporation issued $1,400,000 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 $22,107.40.

Prepare the journal entries to record the following: Additional Instructions

January 1, 2016	Sold the bonds at an effective rate of 7%
December 31, 2016	First interest payment using the effective interest method
December 31, 2016	Amortization of bond issue costs using the straight-line method
December 31, 2017	Second interest payment using the effective interest method
December 31, 2017	Amortization of bond issue costs using the straight-line method

non des Soury Work PAGE 2016 PAGE 2017 GENERAL JOURNAL Score: 181/193 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Jan 1 Cash 1,177,892.60 2 222,107.40 Discount on Bonds Payable Bonds Payable 3 1,400,000.00 4 Jan. 1 Deferred Bond Issue Costs 22,107.40 S Cash 22,107.40 Dec 31 Interest Expense 95,982.00 7 Discount on Bonds Payable 9,982.00 Cash 84,000.00 9 Dec. 31 Interest Expense 4,421.48 10 Deferred Bond Issue Costs 4,421.48 PAGE 2016 PAGE 2017 GENERAL JOURNAL Score: 181/193 DATE ACCOUNT TITLE POST. REF. CREDIT DEBIT 94,681.00 1 Dec 31 Interest Expense 2 Discount on Bonds Payable Cash 10,681.00 84,000.00 4 Dec 31 Interest Expense 4,421.48 5 Deferred Bond Issue Costs 4,421.48