help with accouting!!?

Question

1,500,6%,7yr bond at 104. Intrest is paid each yr. Using straight-line amorazation what is the journal entry?

Answer 1

When the bond was issued, the entry was:
Dr Cash 1560 (104% of 1500)
Cr Bond premium 60
Cr Bond payable 1500

Since interest is paid yearly, amt of amortisation is 60/7 = 9 (rounded up). At each interest payment date:
Dr Bond interest 81
Dr Bond premium 9
Cr Cash 90 (1500 x 6%)