Hi I'm studying the bond part but I cannot figure out why the bond payable is 309600 at 20201.12.31. Could please somebody kindly explain to me the process of this? Thanks a lot

100,654 Cr. Interest payable Bonds payable 90,000 10,654 P11.7 (p.11-34) (a) 2020 Jan. 1 Dr. Cash Cr. Bonds payable 3,120,000 3,120,000 (b) (A) (B) (C) Beginning Interest Interest expense to be balance of to be paid recorded Bonds Payable (10% > 3,000,000) (B)-(D)) Issue date 31/12/2020 3,120,000 300,000 288,000 31/12/2021 3,108,000 300,000 288,000 31/12/2022 3,096,000 300,000 288,000 31/12/2023 3,084,000 300,000 288,000 (D) Premium Amortisation (120,000/10) (E) Ending balance of Bonds Payable ((A)-(D) 3,120,000 3,108,000 3,096,000 3,084,000 3,072,000 12,000 12,000 12,000 12,000 (c) 2020 Dec. 288,000 12,000 300,000 2021 Jan. 31 Dr. Bond interest expense Bonds pavable Cr. Bond interest payable 1 Dr. Bond interest payable Cr. Cash 31 Dr. Bond interest expense Bonds payable Cr. Bond interest payable 300,000 300,000 2021 Dec. 288,000 12,000 300,000 (d) At December 31, 2021 300,000 Current liabilities Bond interest payable Non-current liabilities Bonds payable 3,096,000 2 amount that (*P11.7520 2,6) Paris Electric sold 3,000,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Paris Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 104. Instructions a. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. b. Prepare a bond premium amortization schedule for the first 4 interest periods. c. Prepare the journal entries for interest and the amortization of the premium in 2020 and 2021. d. Show the statement of financial position presentation of the bond liability at December 31, 2021