Problem 10-8A ary 1 20 7 and pay interest 0 ?Group ai t line Grouper Corporation sold $2,5 10,000, 8%, 5-year bonds on January 1 2017. The bonds were dated la method to amortize bond premium or discount. Ja a O pora es e Your answer is partially correct. Try again Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 103. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 2585300 Bonds Payable 2510000 Premium on Bonds Payable 75300 Dec. 31 Interest Expense 200800 Premium on Bonds Payable 15060 Interest Payable