1.Ellis Company issues 7.5%, five-year bonds dated January 1, 2019, with a $590,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $627,746. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds life. 3. Prepare the journal entries to record the first two interest payments.

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Legacy issues $700,000 of 7.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $643,419 when the market rate is 10%. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Prepare the journal entries to record the first two interest payments.

Ellis Company issues 7.5%, five-year bonds dated January 1, 2019, with a $590,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $627,746. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the below table to calculate the total bond interest expense over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a straight-line amortization table for the bonds' life. Carrying Value Semiannual Period- Unamortized End Premium 01/01/2019 06/30/2019 12/31/2019 06/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 Required 1 Required 2 Required 3 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet