On May 1, 20X5, Deever Corporation issued $500000 of 10%, 20-year bonds at 102. The interest is payable on November 1 and May 1. The premium is amortized by the straight-line method. Prepare an amortization schedule for the first three semiannual periods and journalize the following transactions:

20X5
May 1 Bonds issued
Nov. 1 Paid semiannual interest and amortized premium
Dec 31 Accrued bond interest and amortized premium:confused:

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