Book Print Merences Ellis Company issues 8.5%, five-year bonds dated January 1, 2021, with a $490,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $542,247. The annual market rate is 6% on the issue date. Required: 1. 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 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 2022 Kia K5 Question 3- Your TrueCa co My Car-Car Extra Credit Saved Complete this question by entering your answers in the tabs belc Required 1 Required 2 Required 3 Prepare a straight-line amortization table for the bonds' life. (Round your i dollar.) Semiannual Interest Unamortized Premium Carrying Value Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 06/30/2024 12/31/2024 06/30/2025 12/31/2025 this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entries to record the first two interest payments. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 June 30 Interest payable Premium on bonds payable Cash 2 December 311 Interest payable Premium on bonds payable Cash 41,650 41.850