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 semi-annually. Other information is as follows: Term in years: Face value of bonds issued Issue price: Specified interest rate each payment period 200,000 206,000 6% 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 three years Amortization Table Actual cash Periodic Beg. bond Periodic discount Ending bond Period carrying interest interest (prem.) carrying ending amount expense Jun. 30 Dec. 31 Jun. 30 Dec. 31 Jun. 30 Dec. 31 Year 2019 paid amount amort. 2020 2021 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 Bond month riod carrying interest ending amount expense (B/A) Year 2019 Jun. 30 Dec. 31 Jun. 30 Dec. 31 Jun. 30 Dec. 31 2020 2021 4 Prepare the journal entry for December 31, 2019