B. Assume a $250,000, three-year, 12% bond that makes semiannual interest payments is sold for $262,689 when the market interest rate is 10%. Prepare an amortization table and make the journal entries to record the first two interest payments.

Is this all correct and if not please fix it.

Part B (6% of face anount) interest (5% of bond carrying ammount) Interest Interest Payment Paid Expense 1 2 3 4 5 6 $ $ $ $ $ $ 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 $ $ $ $ $ $ 13,134.00 13,041.00 12.943.00 12.840.00 12.732.00 12,619.00 Premium Unamortized Amortization Premium (D- (A-B) C) $ 12,689.00 $ 1.866.00 $ 10.823.00 $ 1.959.00 $ 8.862.00 $ 2.057.00 $ 6,808.00 $ 2.160.00 $ 4.648.00 $ 2.268.00 $ 2,381.00 $ 2.381. 00 0 Bond Carrying Amount ($250,000+D) $ 262,689.00 $ 260,823.00 $ 258.865.00 $ 256,800.00 $ 254.648.00 $ 252,381.00 $ 250,000.00 Journal entries: 1st payr Interest Expense Premium on Bonds Payable Cash 2nd pay Interest Expense Premium on Bonds Payable Cash Journal Entries Date Credit Accounts Name Debit Interest xp s 13.135.00 Premium on Bonds $ 1865.00 Cash $ 15,000.00 2 Interest xp s premium on Bonds 13.041.00 1959.00 $ 15,000.00