Recording Bond Issuance Chart of Accounts General Journal Present Value Tables Instructions On January 1, 2016, Knorr Corporation issued $900,000 of 6%, 5-year bonds dated January 1, 2016. The bonds pay interest annually on December 31 were issued to yield 7%. Bond issue costs associated with the bonds totaled 510,687 46. Required: Prepare the journal entries to record the following: January 1, 2016 December 31, 2016 December 31, 2016 Sold the bonds at an effective rate of 7% First interest payment using the effective interest method Amortization of bond issue costs using the straight-line method December 31, 2017 December 31, 2017 Second interest payment using the effective interest method Amortization of bond issue costs using the straight-line method Print Item Recording Bond Issuance Instructions Chart of Accounts General Journal Present Value Tables Table 3 - Present Value of 1: P., 7. if 1.5% 4.0% 4.5% 5.0% 1 0.985222 0.961538 0.956938 0.952381 2 0.9706620.924556 0.915730 0.907029 0.956317 0.888996 0.876297 0.863838 0.942184 0.854804 0.838561 0.822702 0.928260 0.821927 0.802451 0.783526 0.914542 0.790315 0.767896 0.746215 0.901027 0.759918 0.734828 0.710681 0.887711 0.730690 0.703185 0.676839 0.874592 0.702587 0.672904 0.644609 10 0861667 0.675564 0.643928 0.613913 11 0.848933 0.649581 0.616199 0.584679 12 0 836387 0624597 0.589664 0.556837 13 0.924027 0.600574 0.564272 0.530321 14 8 11949 0.577475 0.539973 0.505068 5.5% 6.0% 17.0% 8.0% 9.0% 0.0% 12.0% 0.947867 0.943396 0.934579 0.9259260.917431 0.909091 0.892857 0.898452 0.889996 0.873439 0.857339 0.841680 0.826446 0.797194 0.851614 0.839619 0.816298 0.793832 0.772183 0.751315 0.711780 0.807217 0.792094 0.762895 0.735030 0.708425 0.683013 0.635518 0.765134 0.747258 0.712986 0.680583 0.649931 0.620921 0.567427 0.725246 0.704961 0.666342 0.630170 0.5962670.564474 0.506631 0.687437 0.665057 0.622750 0.5834900547034 0.513158 0.452349 0.651599 0.627412 0.5820120.540269 0.501866 0.466507 0.403883 0.617629 0.591898 0.543934 0.500249 0.460429 0424098 0 360610 0.585431 0.558395 0.508349 0.463193 0.422411 0385543 0321973 0554911 0 526788 0475093 0.428883 0.387533 0 350494 0.28747 0.525982 0 496969 0.444012 0.397114 0.3555350 318631 / 0.256675 0 49856 0 468839 10.414964 0.367698 03261790 289864 022917 0.4725690442301||||013878170340461|0/29924626323.10.20462