Tanner Corporation, a calendar-year firm, is authorized to issue $400,000 of 12%, 10-year bonds dated May 1, 2003, with interest payable semiannually on May 1 and November 1. Amortization of bond premiums or discounts is recorded using the straight-line amortization method. Prepare journal entries to record the following events, assuming that the bonds are sold at 96 on May 1, 2003. The bond issuance on May 1, 2003. Payment of interest on November 1, 2003. Adjusting entry on December 31, 2003. SES oie Payment of the interest on May 1, 2004.