One Company used $350.000,8% 5-year bonds at 98% on January 1, 2017. The price resulted in an effective- 6.97495 on the bonds. Interest is payable annually on January 1 Universal uses the effective-interest od to meri bodrum adscount Instructions Prepare the journal to record the issuance of bonds. lect Titles Debit Credit Compute the total cost of borrowing for these bonds Borrowing Cost Prepare the adjusting entry for the interest period on December 31, 2017 Row Caput the cost of borrowing for these bonds Borrowing Cont Presting entry for the interest period on December 31, 2017. Round your answers to decimal ccounties Debit Credit