Please help, check my work and explain how to do the following two:

Confirm if i am correct and correct if wrong 1. Issued $500,000 of 10-year 5% bonds at 104, with interest payable semiannually. My answer: Dr: Cash $520,000 Cr: Bonds Payable $500,000 Cr: Premium on Bonds Payable $20,000 2. Record the payment of semiannual interest on the bonds issued and the amortization of the premium for six months. The amortization is determined straight line method. Dr: Interest Expense $1,000 Dr: Premium on Bonds Payable $11,500 Cr: Cash $12,500