$($b$)$

Prepare the journal entry to record interest expense and bor d premium amortization on December $31,2022,$ assuming no previous accrual of interest. $($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$ Interest Expense

Premium on Bonds Payable

Interest Payable

List of Account

Sage HillIssues $$4\mathrm{.}5$ mil $\mathrm{.}10$ year $6\%$ bonds at $1$:$01$ with interest payable on January $1.$ The straight line method is used to amortize bonds premium.