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Problem - Straight-Line: Amortization of bond premium - Quatro Co. Issues bonds dated January 1, 2019 with a par value of $820.000. The bonds| annual contract rate is 10%, and Interest Is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of Issuance Is 8%, and the bonds are sold for $862,972.
1. What is the amount of the premium on these bonds at issuance?
2. How much total bond interest expense will be recognized over the life of these bonds?
3. Prepare a straight-line amortization table for these bonds.
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