b$.$ On January $1,$ Martinez Inc. issued $$6,000,000,11\%,10-$year bonds for $$6,390,000.$ The

market rate of interest for these bonds is $10\%.$ Interest is payable annually on December $31.$

$1.$ Prepare the Schedule of Bond Premium Amortization $($straight$-$line, three$-$year only$)$

$2.$ Prepare the Schedule of Bond Premium Amortization $($effective interest method, three years

only$)$

$3.$ Present the journal entries for the first year $($effective interest only$)$

$4.$ At the end of the first year, Martinez should report an unamortized bond premium of: $($both

methods$)$