Recording Bond Issuance Instructions On January 1, 2016, Knorr Corporation issued $1,100,000 of 9%,5-year bonds dated January 1, 2016. The bonds pay interest annually on December 31 . The bonds were issued to yield 10%. Bond issue costs associated with the bonds totaled $20,058.17. Required: Prepare the journal entries to record the following: Prepare the journal entries to record the following: al entries to record the following: Sold the bonds at an effective rate of 10% First interest payment using the effective interest method Amortization of bond issue costs using the straight-line method Second interest payment using the effective interest method Amortization of bond issue costs using the straight-line method Prepare the journal entries to record the following: Additional Instruc al entries to record the following: Sold the bonds at an effective rate of 10% First interest payment using the effective interest method Amortization of bond issue costs using the straight-line method Second interest payment using the effective interest method Amortization of bond issue costs using the straight-line method