The following are selected transactions for Tyler, Inc., for 2017 and 2018. The firm closes its books on December 31.

2017 Dec. 31            Issued \($500,000\) of 12 percent, ten-year bonds for \($562,360\), yielding an effective rate of ten per- Re cent. Interest is payable June 30 and December 31.

2018 June 30            Paid semiannual interest and recorded semiannual premium amortization on bonds.

Dec. 31                     Paid semiannual interest and recorded semiannual premium amortization on bonds.

31                             Called one-half of the bonds in for retirement at 104.

Required Record the transactions using

(a) straight-line amortization and

(b) effective interest amortization. Round amounts to the nearest dollar. You should read Appendix 10A prior to attempting this comprehensive problem.