I JUST NEED HELP WITH THE NUMBERS ON THE JOURNAL ENTRIES!

On January 1, 2016, Knorr Corporation issued $700,000 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 $8,312.46.

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 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

ASSEIS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 195 Deferred Bond Issue Costs 198 Accumulated Depreciation EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 910 Income Tax Expense LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 255 Bonds Payable 256 Premium on Bonds Payable 257 Discount on Bonds Payable 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings PAGE 2016 PAGE 2017 GENERAL JOURNAL Score: 146/193 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Jan. 1 Cash 2 3 Discount on Bonds Payable Bonds Payable Jan. 1 Deferred Bond Issue Costs 4 5 Cash 6 Dec 31 Interest Expense Discount on Bonds Payable 7 8 Cash Dec 31 Interest Expense 10 Deferred Bond Issue Costs PAGE 2016 PAGE 2017 GENERAL JOURNAL Score: 127/193 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 2 Dec. 31 Interest Expense Discount on Bonds Payable Cash 3 Dec. 31 Interest Expense Deferred Bond Issue Costs 5