On January 1, a company purchased 6%, 15-year corporate bonds for $49,624,854 as an investment. The bonds have a face amount of $60 million and are priced to yield 8%. Interest is paid semiannually.

1) Prepare a partial amortization table at the effective interest rate on June 30 and December 31. (Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount.)

Period end Cash Interest received Bond interest revenue Disc. Ammort Carrying value

Jan 1 $ 49,624,854

June 30 ________ _____________ _________ __________

Dec 31 ___________ _____________ _________- _________

2) Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31. (Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount. If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)