Using a Premium Amortization Table (Straight Line) For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7% bonds were sold on January 1, 2024, for $445,000. Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance Carrying Value Period At issue 45,000 445,000 06/30/24 $14,000 $9,500 $4,500 40,500 440,500 12/31/24 14,000 9,500 4,500 36,000 436,000 06/30/25 14,000 9,500 4,500 31,500 431,500 12/31/25 14,000 9,500 4,500 27,000 427,000 06/30/26 14,000 9,500 4,500 22,500 422,500 12/31/26 14,000 9,500 4,500 18,000 418,000 06/30/27 14,000 9,500 4,500 13,500 413,500 12/31/27 14,000 9,500 4,500 9,000 409,000 06/30/28 14,000 9,500 4,500 4,500 404,500 12/31/28 14,000 9,500 4,500 0 400,000 Required: 1. Prepare the entry to recognize the issuance of the bonds on January 1, 2024. If an amount box does not require an entry, leave it blank. 2024 Jan. 1 Record issuance of bonds at premium 2. Prepare the entry to recognize the first interest payment on June 30, 2024. If an amount box does not require an entry, leave it blank. 2024 June 30 Record interest expense 3. Determine what interest expense for this bond issue Dingle will report in its 2025 income statement. 4. Indicate how these bonds will appear in Dingle's December 31, 2027, balance sheet. Dingle Corporation Balance Sheet (partial) December 31, 2027 Bonds payable