Straight Line vs Effective Interest Amortization Methods

Ranger Co. issues bonds dated January 1, information about the bonds is below.
Interest is paid semiannually on June 30 and December 31.
Par 850,000
Rate 12%
Term 3
Market Rate 10%
Issue Price 893,131
Semi annual interest 51,000

1. What is the amount of the premium on these bonds at issuance?

Issue Price 893,131

Par 850,000
premium 43,131
6 premium amoritized per period

2. How much total bond interest expense will be recognized over the life of these bonds?

Total Bond Interest Expense Over Life of Bonds:

Amount repaid:
6 payments of 51,000 306,000
Par value at maturity 850,000
Total repaid 1,156,000
Less amount borrowed 893,131
Total bond interest expense 262,869

3. Prepare a straight-line amortization table for these bonds.

Semiannual
Unamortized
Interest Period- Carrying Value
Premium
End
1/1 yr 1 43,131 893,131
6/30 yr 1 35,943 885,943
1/1 yr 2 28,754 878,754
6/30 yr 2 21,566 871,566
1/1/ yr 3 14,377 864,377
6/30 yr 3 7,189 857,189
12/31 yr 3 - 850,000
3. Prepare an effective Interest: amortization of these bonds.
Semiannual
Cash Interest Bond Interest Premium Unamoritzed Carrying
Interest
Paid Expense Amorization Premium Value
Period-End
1/1 yr 1 - - - 43,131 893,131
6/30 yr 1 51,000 44,657 6,343 35,943 885,943
1/1 yr 2 51,000 44,339 6,661 28,754 878,754
6/30 yr 2 51,000 44,006 6,994 21,566 871,566
1/1/ yr 3 51,000 43,657 7,343 14,377 864,377
6/30 yr 3 51,000 43,289 7,711 7,189 857,189
12/31 yr 3 51,000 42,904 8,096 - 850,000
Total