The following partial amortization table was developed for a 6.0%, $830,000 5-year bond that pays interest each 30 September and 31 March. The table uses an effective interest rate of 5%. The bond was issued on 1 August 20X1.

	Amortization Schedule, Effective-Interest Method:
Interest Period	Cash Interest		Interest Expense		Premium Amortization		Balance Unamortized Premium		Carrying Amount of Bonds
Opening							$	36,321	$	866,321
1 (30 Sept. 20X1)	$	24,900	$	21,658	$	3,242		33,079		863,079
2		24,900		21,577		3,323		29,756		859,756
3		24,900		21,494		3,406		26,350		856,350
4		24,900		21,409		3,491		22,859		852,859
5		24,900		21,321		3,579		19,280		849,280
6		24,900		21,232		3,668		15,612		845,612
7		24,900		21,140		3,760		11,852		841,852

Required: 1-a. Calculate the issuance proceeds of the bond. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)

1-b. Calculate the issuance proceeds of the accrued interest.

2. Record all entries associated with the bond for 20X1 and 20X2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

3. Calculate interest expense for 20X1 and determine the net balance of bonds payable as of 31 December 20X1. (Round your answer to the nearest whole dollar amount.)