Confused as to why 20,176 is incorrect, help !

Concord Corporation issued $416,000, 5%, 20-year bonds on January 1, 2020, at 103. Interest is payable annually on January 1, Concord uses straight-line amortization for bond premium or discount. Your answer is correct Prepare theournal entry to record the issuance of the bonds. (Credit account tities are automatlcaily Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 428480 Bonds Payable 416000 Premium on Bonds Payable 12480 eTextbook and Media List of Accounts Your answer is partially correct Prepare thejournal entry to record the accrual of interest and the premium amortization on December 31,2020. (Credlt account tities are automatlcally Indented when amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit Dec 31 Interest Expense 20176 Premium on Bonds Payable 624 Interest Payable 20800