3. [Farm 55151] The July 1, EDIT, interest payment was made in the amount of 54,i]l]. (Note: Since you credited ExpenseInterest on LongTerm Debt for in 5a-T in the governmental activities general journal you can record the full July 1, EDIT, interest payment as a debit to Interest Expense, less amortization of the premium} Required: Record this transaction in both the debt service uid and the governmental activities genera] journals. For the entry in the govermnental activities journal, assume that the appropriate amount of amortization of the Premium on Deferred Serial Bonds Payable for the period the bonds have been outstanding {May E to July 1] is $535. (Note: Although premiums and discounts on bonds issued are not amorb'zed in a debt service food, they should be amortized at the governmentwide level since the accrual basis of accounting is used at that level}