Facts: Bond issue: $104,000, 11%, 25-year bonds; selling price of
bonds $249,600; market rate 3%. Use the interest method. Calculate the
following:
1. Carrying value at beginning of period
2. Interest paid to bondholders each 6 months
3. Interest expense for the first semiannual period
4. Premium to be amortized for the first semiannual period

5. Carrying value at end of first semiannual period