P20.5 Saltmine Hospital issued $600,000 (face value) of 8 percent serial bonds on January 1, 20x1, at 106 percent. These bonds pay interest annually on January 1 and mature at the rate of $120,000 annually, starting January 1, 20x2. Issue costs amounted to $18,000. The hospitals fiscal year ends on December 31, at which time annual entries are made for amortization and accruals. Required: (1) Prepare a table to summarize premium amortization and interest expense for the 20x1 20x5 period. (2) Prepare the necessary journal entries for 20x1 and 20x2 only. (3) Indicate how all matters relating to these bonds should be presented in the hospitals 20x2 financial statements.