Celine Dion Company issued $600,000 of 10%
January 4th, 2018
(EntriesforBondTransactions—Straight-Line)Celine Dion Company issued $600,000 of 10%,20-yearbondsonJanuary1,2014,at102.InterestispayablesemiannuallyonJuly1andJanuary1.DionCompany uses the straight-line method of amortization for bond premium or discount.InstructionsPrepare the journal entries torecord the following.(a)The issuance of the bonds.(b)The payment of interest and the related amortization on July 1, 2014.(c)The accrual of interest and therelated amortization on December 31, 2014.