Carrying Amount of Bonds**********

Sunland Company sells 9% bonds having a maturity value of $4,800,000 for $5,406,579. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and premium amortization under the straight-line method. (Round answers to decimal places, e.g. 38,548.) Schedule of Premium Amortization Straight-Line Method Interest Payable Interest Expense Premium Amortized C Amour Year Jan. 1. 2020 $ $ $ $ $ Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024