Glimmer Pools purchased $ 50,000 of 7 % AKL bonds on January 1 2021 , at a price of 104 2 when the market rate of interest was 6 % Glimmer intends to hold the bonds until their maturity date of January 1 2026.

The bonds pay interest semiannually on each January 1 and July.

Calculate the amount of premium amortization ( using the straight line amortization method ) on July 1 , 2021 , and record the related journal entries

What is the total interest revenue for the first six months of 2021?

Gimmer Pools purchased $50,000 of 7% AKL bonds on January 1, 2021, at a price of 1042 when the market rate of interest was 6%. Glimmer intends to hold the bonds until their maturity date of January 1,2026. The bonds pay interest semiannually on each January 1 and July 1 . Calculate the amount of premium arnortization (using the straight-line amortization method) on July 1,2021 , and record the related journal entries. What is the total interest revenue for the first six months of 2021 ? Calculate the amount of premlum amortization (using the straight-Ine amortization method) on July 1,2021 , and record the related joumal entries First, record the entry for the interest receivable at July 1, 2021 . (Record debils first, then crodits. Exclude explanations from any journal entries)