On the first day of the fiscal year, Lisbon Co. issued $1,000,000 of 10-year, 7% bonds for $1,050,000, with interest payable semiannually. Orange Inc. purchased the bonds on the issue date for the issue price. The journal entry to record the amortization of the premium (by the straight-line method for the year by Lisan indudes a debit to a odsystle for 55.000 b. Ist Expense for 55.000 cod Expose for $3.500 d. Premonts Payable for $2.500 Previous SURG