Guehler Electric sold $ 2,928,000 , 11 %, 10-year bonds on January 1, 2014.
The bonds were dated January 1 and pay interest July 1 and January 1.
Guehler Electric uses the straight-line method to amortize bond premium or discount.
The bonds were sold at 104 . Assume no interest is accrued on June 30.