Using a Premium Amortization Table (Straight Line) Cash Interest Payment Expense Premium on Bonds Payable For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7% bonds were sold on January 1, 2024, for $429,000. Premium on Bonds Payable Period (Credit) (Debit) (Debit) Balance Carrying Value At issue 29,000 429,000 06/30/24 $14,000 $11,100 $2,900 26,100 426,100 12/31/24 14,000 11,100 2,900 23,200 423,200 06/30/25 14,000 11,100 2,900 20,300 420,300 12/31/25 14,000 11,100 2,900 17,400 417,400 06/30/26 14,000 11,100 2,900 14,500 414,500 12/31/26 14,000 11,100 2,900 11,600 411,600 06/30/27 14,000 11,100 2,900 8,700 408,700 12/31/27 14,000 11,100 2,900 5,800 405,800 06/30/28 14,000 11,100 2,900 2,900 402,900 12/31/28 14,000 11,100 2,900 0 400,000 Required: 1. Prepare the entry to recognize the issuance of the bonds on January 1, 2024. If an amount box does not require an entry, leave it blank. 2024 Jan. 1 Cash Bonds Payable Premium on Bonds Payable 429,000 400,000 29,000 Record issuance of bonds at premium 2. Prepare the entry to recognize the first interest payment on June 30, 2024. If an amount box does not require an entry, leave it blank. 2024 June 30 Interest Expense Premium on Bonds Payable Cash Record interest expense 3. Determine what interest expense for this bond issue Dingle will report in its 2025 income statement. 4. Indicate how these bonds will appear in Dingle's December 31, 2027, balance sheet. Dingle Corporation Balance Sheet (partial) December 31, 2027 Bonds payable: 7% Bonds, due 2028 Add: Unamortized Premium on Bonds Payable