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Premium Amortization On the first day of the fiscal year, a company issues a $2,400,000,...

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Accounting

Premium Amortization

On the first day of the fiscal year, a company issues a $2,400,000, 11%, 10-year bond that pays semiannual interest of $132,000 ($2,400,000 11% ), receiving cash of $2,712,189.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

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\table[[\table[[GOLDEN CORPORATION],[Comparative Balance Sheets],[December 31]],Current Year,Prior Year],[\table[[Assets],[Cash],[Accounts receivable],[Inventory],[Total current assets],[Equipment],[Accumulated depreciation-Equipment]],\table[[\table[[$164,000

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