Teal Company issued $480,000 of 10%, 20-year bonds on January 1, 2017, at 103. Interest is payable semiannually on July 1 and January 1. Teal Company uses the straight-line method of amortization for bond premium or discount.

Can you please find the correct answers to where it is marked wrong. Please show any work in terms of what I need to multiply to get there, thank you.

Date Account Titles and Explanation Debit Credit 1/1/17 Cash Premium on Bonds Payable 14400 Bonds Payable 480000 7/1/17 Tinterest Expense 25462 Premium on Bonds Payable 1462 Cash T 24000 12/31/17 Tinterest Expense 25386 Premium on Bonds Payable 1386 T Interest Payable T 24000 Click if you would like to show Work for this questionOnen Show Work