On December 31, 2019, Spearmint, Inc, issued $450,000 of 9 percent, 3-year bonds for cash of 461,795. After recording the related entry, Bonds Payable had a balance of $450,000 and Premium on Bonds Payable had a balance of $11,795. Spearmint uses the straight-line bond amortization method. The first semiannual interest payment was made on June 30, 2020. Complete the necessary journal entry for June 30,2020.

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