Prem Premmy Corp. is authorized to issue $6,000,000 of 7%, ten year bonds payable. On March 1, 2019 when the market interest rate is 5.25%, the company issue $1,200,000 of the bonds at 110, and incurred bond issue cost of $20,000. Prem Premmy measures interest expenses by the effected interest method. The bonds pay interest semi-annually on June 30th and December 31st

Prepare entry on page 2 of the General Journal on March 1, 2019 Prepare an amortization table for the first four semi-annual interest periods. Record the first semi- annual interest expense on June 30.