Question: A partial bond amortization schedule for Sandhill Corp. is provided below. Sandhill has a December 31 year end. Semi-Annual Interest Period Interest Payment Interest Expense

A partial bond amortization schedule for Sandhill Corp. is provided below. Sandhill has a December 31 year end.

Semi-Annual Interest Period Interest Payment Interest Expense Amortization Bond Amortized Cost
Jan. 1, 2021 $392,058
July 1, 2021 $8,200 $9,801 $1,601 393,659
Jan. 1, 2022 8,200 9,841 1,641 395,300
July 1, 2022 8,200 9,883 1,683 396,983

Was the bond issued at a premium or discount?

Record the interest payment on July 1, 2021.

Record the adjusting entry on December 31, 2021.

Record the interest payment on January 1, 2022.

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