Polk Incorporated issued $$184,000$ of $8\%$ bonds on July $1,$ Year $1,$ for $$190,999\mathrm{.}07.$ The bonds were dated January $1,$ Year $1,$ pay interest on each June $30$ and December $31,$ are due December $31,$ Year $5,$ and were issued to yield $7\%.$ Polk uses the effective interest method of amortization.

Required:

Prepare the journal entries to record the issue of the bonds on July $1,$ Year $1,$ and the interest payments on December $31,$ Year $1,$ and June $30,$ Year $2.$ In addition, prepare a bond interest expense and premium amortization schedule for the bonds through June $30,$ Year $2.$