Round Corporation was authorized to issue $300,000 of bonds. On January 1, 2019, the corporation issued $150,000 of bonds for $147,000. Details of the bond indenture are as follows: Date of authorization Term Interest rate Interest payment dates January 1, 2019 3 years 12% Semiannually on June 30 and December 31 Required: 1. Calculate a. The amount of interest paid every interest payment date b. The amount of amortization to be recorded at each interest payment date (use the straightline method of amortization).

2. Calculate actual interest expense for each sixmonth period.