Bond Premium, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Premium Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $98,000,000 of 20 -year, 14\% bonds at a market (effective) interest rate of 12%, receiving cash of $112,721,560. Interest on the bonds is payable semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year