The Amazing Widget Company issues $500,000 of 6%, 10-year bonds at 103 on March 31, 2014. The bond pays interest every March 31. The market rate of interest on the issuance date was 4%. The company uses the straight-line method for amortization. The journal entry to record the first interest payment would include a

(Correct answer is Debit to Interest Expense for $28,500 but I don't know how to get there)