5. Journal Entries

Record the first interest payment on June 30, 2015.

Record the second interest payment on December 31, 2015.

Hillside issues $3,000,000 of 6%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of S3,671,990 Required: 1. Prepare the January 1, 2015, jounal entry to record the bonds' issuance view transaction list View general Journal Entry Worksheet Record the issue of bonds with a par value of $3,000,000 cash on anuary 1, 2015 at an issue price of $3,671,99o. Date General Journal Debit Credit Jan 01, 2015 Enter debits before credits entry 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization (Round "Unamortized Premium" to whole dollar and use the rounded value for part 4 & 5.) premi Bond price ay 2(c) For each semiannual period, complete the table below to calculate the bond interest expense Bond interest e 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds life nterest e over life o Amount repaid payments of Par value at maturity Total repaid Less amount borrowed nterest e 4. Prepare the first two years of an amortization table using the straight-line method 01/01/2015 06/30/2015 12/31/2015 12/31/2016