Rosewell Corporation sold $4,000,000, 7%, 10-year bonds on January 1, 2015. The bonds were dated January 1, 2015, and pay interest annually on January 1. Rosewell Corporation uses the straight-line method to amortize bond premium or discount. Instructions (a) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2015, assuming that the bonds sold at 103. (b) Prepare journal entries as in part (a) assuming that the bonds sold at 96. (c) Show the balance sheet presentation for the bond liability at December 31, 2015