Question 1 . On January 1, 2017, Tranche Corp. issued $750,000 of 8%, 10-year bonds, with annual interest payments on December 31. The bonds were issued for $657,831 yielding an effective-interest rate of 10%. Tranche Corp. uses the effective interest method of amortization. a. Prepare the necessary journal entries to record the issuance of the bonds and the first interest payment. . b. Determine the carrying value of the bonds on December 31, 2017