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On January 1, ABC Company issued $1,000,000, 5-year, 12% bonds for $1,037,690. If the bonds pay interest on June 30 and December 31 and if

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On January 1, ABC Company issued $1,000,000, 5-year, 12% bonds for $1,037,690. If the bonds pay interest on June 30 and December 31 and if the effective rate of interest is 11%, determine the following: The interest paid on June 30 The amount of premium amortized on June 30, using the straight-line method (round to the nearest dollar) The accrued interest payable on December 31

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