Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable annually on January 1.

Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable annually on January 1. Grand uses the straight-line method of amortization and has a calendar year end.

Instructions

all journal entries made in 2017 related to the bond issue.