3. Determine the total interest expense for 2014. $ Bond Premium, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Premium Wishaw, Inc. produces and sells outdoor equipment. On July 1, 2014, Wishaw, Inc. issued $150,000,000 of 20-year, 12% bonds at a market (effective) interest rate of 9%, receiving cash of $191,403,720. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year