Before you begin, print out all the pages in this workbook Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semiannually Other information is as follows: Term in years Face value of bonds issued 5300 Issue price $206.000 Specified interest rate each payment period Required: 1 Calculate a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight-line method) 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table (A.D Beg Actual Periodic bond Periodic cash discount Ending bond Period carrying interest Interest (prem) carrying Year ending amount expense pold amort amount 2019 Jun 30 Dec. 31 2020 Jun 30 Dec. 31 2021 Jun 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six-month period. Round all percentage calculations to two decimal placed. Use the following format: Six month period ending Bond carrying amount She month interest expense Year (B/A) 2019 2020 Jun. 30 Dec. 31 Jun 30 Dec. 31 Jun 30 Dec. 31 2021 4 Prepare the journal entry for December 31, 2019. Before you begin, print out all the pages in this workbook Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semiannually Other information is as follows: Term in years Face value of bonds issued 5300 Issue price $206.000 Specified interest rate each payment period Required: 1 Calculate a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight-line method) 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table (A.D Beg Actual Periodic bond Periodic cash discount Ending bond Period carrying interest Interest (prem) carrying Year ending amount expense pold amort amount 2019 Jun 30 Dec. 31 2020 Jun 30 Dec. 31 2021 Jun 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six-month period. Round all percentage calculations to two decimal placed. Use the following format: Six month period ending Bond carrying amount She month interest expense Year (B/A) 2019 2020 Jun. 30 Dec. 31 Jun 30 Dec. 31 Jun 30 Dec. 31 2021 4 Prepare the journal entry for December 31, 2019