On January 1, 2019, Solo Company purchased $250,000, 8%, 10-year bonds with interest payable on June 30 and December 31. Solo paid $267,765 for the bonds (effective interest rate of 7%). Solo intends to hold the investments to maturity and uses effective interest method amortization. The amount of premium amortization reported on June 30, 2019 is $1,000 $5,000 $628 $895