Glimmer Pools purchased $$50,000$ of $7\%$ AKL bonds on January $1,2021,$ at a price of $104\mathrm{.}2$ when the market rate of interest was $6\%.$ Glimmer intends to hold the bonds until their maturity date of January $1,2026.$ The bonds pay interest semiannually on each January $1$ and July $1.$ Calculate the amount of premium amortization $($using the straight$-$line amortization method$)$ on July $1,2021,$ and record the related journal entries. What is the total interest revenue for the first six months of $2021?$

Calculate the amount of premium amortizstion $($using the straight$-$line amortization method$)$ on July $1,2021,$ and record the related journal entries.

First, record the entry for the interest receivable at July $1,2021.($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Journal Entry

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$Jul$,1,,],[7,$:$,,],[,,,],[,,,]]$