Eli Ine. issteed $100,000 of 8% annual, 5 year bonda for $103,000. What is the total amount of interest expense over the life of the bonds? Show your work in the box below. 11. 22 points Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,2018 and received $540,000. Interest is payable annually. The premium is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30,2019 : entry to record amortization of premium D. June 30,2020 : entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of premium