Recording Bonds Issued at a Premium$-$Straight$-$Line

Yale Corporation issued $$60,000,8\%($cash interest payable semiannually on June $30$ and December $31)10-$year bonds dated and sold on January $1.$ Yale amortizes any bond discount or premium using the straight$-$line amortization method. If the bonds were sold at $103,$ provide journal entries to be made at each of the following dates.

a$.$ January $1,$ for issuance of bonds.

b$.$ March $31,$ for accrual of interest for quarterly reporting.

c$.$ June $30,$ for the first interest payment. $($No reversing entries made.$)$

$\backslash$table$[[$Date$,$Account Name,,Dr$.,$Cr$.],[$a$.$ Jan. $1,$Cash,$v,60000,],[$Premium on Bonds Payable,$v,,5234],[$Bonds Payable,$v,6,54766],[$To record the issuance of bonds.,,,$],[$b$.$ March $31,,v,,],[,v,,],[,v,,],[$To accrue interest for the quarter.,,,$],[$c$.$ June $30,,v,,4],[,,,],[,vv,,],[,v,,],[$To record the first interest payment.,,,