give two questions answer and processplease

Ch 10-2 activities 1. Shannon Company issued $500,000, 8%, 10-year bonds on December 31, 2016, for $480,000. Interest is payable annually on December 31. Shannon uses the straight-line method to amortize bond premium or discount Instructions Prepare the journal entries to record the following events (a) The issuance of the bonds. (b) The payment of interest and the discount amortization on December 31, 2017 (c) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded 2. Wynne Company issued $300,000 of 10%, 5-year bonds at 108, Interest is paid annually, and the effective interest method is used for amortization. Assume that the market rate for investments is 8%. The bonds are issued on the date of the bonds What amount was received for the bonds? b. a. How much interest is paid each interest period? c. What is the premium amortization for the first interest period? d. How much bond interest expense is recorded on the first interest date? e. What is the carrying value of the bonds after the first interest date