Polk Incorporated issued $251,000 of 10% bonds on July 1, 2019, for $260,122.33. The bonds were dated January 1, 2019, pay interest on each June 30 and December 31, are due December 31, 2020, and were issued to yield 9%. Polk uses the effective interest method of amortization. Required:   Prepare the journal entries to record the issue of the bonds on July 1, 2019, and the interest payments on December 31, 2019, and June 30, 2020. In addition, prepare a bond interest expense and premium amortization schedule for the bonds through June 30, 2020.

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