Can I get some help solving this with an explanation on how you got the answer ?

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. The bonds were issued to yield 7%. Bond issue costs associated with the bonds totaled $10,687.46. Required: Prepare the journal entries to record the following: January 1, 2016 Sold the bonds at an effective rate of 7% December 31, 2016 First interest payment using the effective interest method December 31, 2016 Amortization of bond issue costs using the straightline method December 31, 2017 Second interest payment using the effective interest method December 31, 2017 Amortization of bond issue costs using the straightline method \"CLUI uulg Dull\" Laauallhc Chart of Accounts X_ ASSETS REVENUE lay interest annual Cash 411 Sales Revenue Accounts Receivable EXPENSES Inventory Cost of Goods Sold Prepaid Insurance Equipment 511 Insurance Expense 195 Deferred Bond Issue Costs 512 Utilities Expense Accumulated Depreciation 521 Salaries EXPENSE Bad Debt Expense LIABILITIES 540 Interest Expense Accounts Payable Depreciation Expense Salaries Payable Miscellaneous Expenses 250 Uneamed Revenue 910 Income Tax Expense Bonds Payable Premium on Bonds Payable Discount on Bonds Payable Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings Recording Bond Issuance January 1, 2016 December 31, 2016 December 31, 2016 December 31, 2017 December 31, 2017 Sold the bonds at an effective rate of 7% First interest payment using the effective interest method Amortization of bond issue costs using the straightline method Second interest payment using the effective interest method Amortization of bond issue costs using the straightline method GENERAL JOURNAL ACCOU NT TITLE PAGE 2016 PAGE 2017 CREDIT Instructions Chart of Accounts General Journal Present Value Tables In C General Journal O Bd Prepare the journal entries to record the following: Additional Instructions January 1, 2016 Sold the bonds at an effective rate of 7% December 31, 2016 First interest payment using the effective interest method December 31, 2016 Amortization of bond issue costs using the straight-line method December 31, 2017 Second interest payment using the effective interest method December 31, 2017 Amortization of bond issue costs using the straight-line method PAGE 2016 PAGE 2017 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT N A UT