How to solve

Straight line amortization

on January $1$ Eagle Inc. issued $$800,000$ of $9\%20$ year bonds for $$878,948$ using an effective interest rate of $8\%.$ Semi annual interest is payable on June $30$ and December $31$ each year. The firm uses the straight line method to amortize the premium.

a$.$ Prepare an amortization schedule showing the necessary information for the first two interest periods. Round amounts to the nearest dollar.

Determine the financial statement effect of the following:

b$.$ Bond issuance on December $31.$

c$.$ Bond interest payment and discount amortization at June $30$ of the following year.

d$.$ Bond interest payment and discount amortization at December $31$ of the following year

TIP: If a category is not affected by the bond issuance, enter $0$ or leave the field blank. If the transaction affects two accounts in the same category, enter the largest dollar amount in the first row.

$\backslash$table$[[$Transaction$,$Balance Sheet,Income Statement$],[$Assets$,=,$Liabilities,$+,\backslash$table$[[$Stockholders$\text{'}],[$Equity$]],$Revenue,$-,$Expenses,$=,\backslash$table$[[$Net$],[$Income$]]],[$b$.$ Issuance at January $1,0x,=,0x,+,0,0,-,0,=,0$