New West issued $5,000,000 par value, 12%, 5 year bonds on January 1, 2020 Interest is to be paid semiannually on June 30 and December 31. The bonds were sold for $4,648,580 when the market rate was 14%. The company uses the effective interest method for amortization. Which of the following is true on June 30, 2020? Premium is credited for $25,420 Cash is credited for $300,000 Discount is debited for $25,400 Two of the answers are correct