On January 1, 2016, Knorr Corporation issued$800,000 of 6%, 5-year bonds dated January 1, 2016. The bonds payinterest annually on December 31. The bonds were issued to yield7%. Bond issue costs ass General Journal Ori \begin{tabular}{|c|c|c|} \hline 1 & DATE & Jan. \( 1^{\prime} \) Cash \\ \hline 1 & Discount on Bonds Payable \end{tabular} 3 Bonds Payable 4 Jan.1 Deferred Bond Issue Costs (5. Ca 2 answers