lorance corporation issued 400000 7 20 year bonds on january 1 2017 for 360727 this price resulted in an effective interest rate of 8 on the bonds/

Instructions
Prepare the journal entries to record the following. (Round to the nearest dollar.)
(a) The issuance of the bonds.
(b) The accrual of interest and the discount amortization on December 31, 2017.
(c) The payment of interest on January 1, 2018.