Bonds

Please explain in detail. Question listed below

5 . Renfro Company issued $300, 000 of 8% , 10 - year bonds at 102 . Interest is paid annually , and the straight - line method is used for amortization Assume that the marke ket rate for similar investments is 7 % The bonds are issued on the date of the bond What amount was received for the bonds How much interest is paid each interest period ? What is the premium amortization for the first interest period ? How much interest expense is recorded on the first interest date ? What is the carrying value of the bonds after the first interest date