on December 31^st colly company issued $3,00,000 of 15 year , ten percent bonds payable for $3,51,780, yielding an effective interest rate of eight percent. Interest is payable semi annually on June 30 and December 31^st.

Determine the financial statement effect of (a) issuance of the bonds

(b)first semi-annual interest payment and premium amortization (effective interest method) on June 30

(c) the second semi annual interest payment and premium amortization on December 31, round amounts to nearest $