P15-6C Proctor Company sold $6,000,000,9%,20-year bonds on January 1, 2016. The bonds were dated January 1 , and pay interest annually on January 1. Proctor Company uses the straight-line method to amortize bond premium or discount. The bonds were sold at 96. Instructions (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2016. hon (b) Prepare a bond discount amortization schedule for the first 4 interest periods. (c) Prepare the journal entries for interest and the amortization of the discount in 2016 and 2017. (d) Show the balance sheet presentation of the bond liability at December 31, 2017