Miguel Industries lent $150,000 to Asal Airstream Corporation on January 1, 2020. Asal Airstream signed a 6-year, 4% installment note to be paid semi-anually (12 equal payments).

A. Record the journal entry that Asal Airstream will record on June 30, 2020 (the first payment period)

B. How much total interest expense will Asal Airstream record on its full year 2020 income statement (1/1 - 12/31)? Round to the nearest dollar.