I am having a problem calculating the premium in the Bond Investment Premium Amortization Schedule using the Straight line method. per the book it says to use subtract the Bond premium value from the Bond face value and then divide by the number of payments. I do that and I'm told that the interest is wrong. i am sending pixtures of rhe i steuctions and the sheet that i started to fillout. the premium was $9,991,12 and I divided by 6 for the payments.

Cengage Digital Learning -Assignment/takeAssignment Main.do?invoker=&take AssignmentSessionLocator=&inprogress-false ew Ham... Checkpoint Speed... Chase Bank - Credit... MS Login - Morgan Sta MInbox - jet 1150501 te Total Connect 20 Charles Lee: Why Fair-Value + Optimum TV, Pho.. eBook USAA / Welcome to Calculator Print Item Bond Investment Premium Amortization Schedule Instructions Chart of Accounts General Journal Analysis Instructions Mercer Corporation acquired $400,000 of Park Company's bonds on June 30, 2018 for $409.991.12 The bonds carry a 12% stated interest rate and pay interest semiannually on June 30 and December 31. The appropriate market interest rate is 11%, and the bands are due June 30 2021 Required: 1 Prepare an investment interest income and premium amortization schedule using the a straight-line method effective interest method 2. Prepare joumal entries to record the December 31 2018. and December 31, 2020 interest receipts using both methods 06/30/21 24,000.00 Mercer Decemi Analysis Straight-Line Method Shades Re 1 Date 1 Cash Debit Investment in Debt Securities Credit Interest Income Credit Carrying Value of Debt Securities a 2 b 06/30/18 12/31/18 2 3 $409,991.12 $24,000.00 $1,665.19 4 06/30/19 24,000.00 5 12/31/19 6 06/30/20 24,000.00 24,000.00 24,000.00 7 12/31/20 06/30/21 8 24,000.00 Cengage Digital Learning -Assignment/takeAssignment Main.do?invoker=&take AssignmentSessionLocator=&inprogress-false ew Ham... Checkpoint Speed... Chase Bank - Credit... MS Login - Morgan Sta MInbox - jet 1150501 te Total Connect 20 Charles Lee: Why Fair-Value + Optimum TV, Pho.. eBook USAA / Welcome to Calculator Print Item Bond Investment Premium Amortization Schedule Instructions Chart of Accounts General Journal Analysis Instructions Mercer Corporation acquired $400,000 of Park Company's bonds on June 30, 2018 for $409.991.12 The bonds carry a 12% stated interest rate and pay interest semiannually on June 30 and December 31. The appropriate market interest rate is 11%, and the bands are due June 30 2021 Required: 1 Prepare an investment interest income and premium amortization schedule using the a straight-line method effective interest method 2. Prepare joumal entries to record the December 31 2018. and December 31, 2020 interest receipts using both methods 06/30/21 24,000.00 Mercer Decemi Analysis Straight-Line Method Shades Re 1 Date 1 Cash Debit Investment in Debt Securities Credit Interest Income Credit Carrying Value of Debt Securities a 2 b 06/30/18 12/31/18 2 3 $409,991.12 $24,000.00 $1,665.19 4 06/30/19 24,000.00 5 12/31/19 6 06/30/20 24,000.00 24,000.00 24,000.00 7 12/31/20 06/30/21 8 24,000.00