Face value of bonds = P6,540,000; Issue price = 112; Date of bonds and issuance = January 1, 2019; Stated rate = 8%; Interest payment = annually on December 31. Bonds mature on every Dec. 31 of each year at the rate of P1,090,000 per year. Face value bonds of P1,090,000 originally maturing on December 31, 2023, are retired at 92 on December 31, 2019.

1. Compute for the proceeds from the issuance of bonds on January 1, 2019.

2. Compute for the premium amortization for the year 2020.

3. Compute for the unamortized premium attributable to the P1,090,000 face value bonds retired.

4. Compute for the premium amortization to be recorded for the year 2022, after the retirement of bonds.