n Glimmer Pools purchased $50,000 of 7% AKL, bonds on January 1, 2018 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, 2023. The bonds pay interest semiannually on each January 1 and July 1. Calculate the amount of premium amortization (using the straight-line amortization method) on July 1, 2018, and record the related Journal entries. What is the total interest revenue for the first six months of 2018? Calculate the amount of premium amortization (using the straight-ine amortization method) on July 1, 2018, and record the related journal entries. First, record the entry for the interest receivable at July 1, 2018. (Record debits first, then credits Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Jul 1 inco 10/21