Question 3 Flint Corporation sold S3,130,000, 8%, 5-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on January 1. Flint Corporation uses the straight-line method to amortize bond premium or discount. Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 105. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan Cash 3286500 Bonds Payable 3130000 Premium on Bonds Payable 156500 Dec. 31 Interest Expense 219100 Premium on Bonds Payable 31300 Interest Payable 250400