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On April 1,20X1, German Corporation issued $100,000 of 7%,5-year bonds dated April 1,20X1, at 101....

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Accounting

On April 1,20X1, German Corporation issued $100,000 of 7%,5-year bonds dated April 1,20X1, at 101. Interest is paid on March 31 and September 30. The proper entries to record bond interest expense for the (entire) year ended 20X1 would include a decrease in interest expense for premium amortization in the amount of (round to the nearest dollar and assume straight-line amortization):

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