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Elis Company issues 9.0%, five year bonds dated January 1, 2020, with a $410,000 par value. The bonds pay interest on June 30 and December
Elis Company issues 9.0%, five year bonds dated January 1, 2020, with a $410,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $426,627 The annual market rate is 8% 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 Calculate the total bond Intere expense over the bonds life Total bond interest expense over life of bonds Amount repaid Payments of Par value at maturity Totalrepaid Loss amount borrowed Total bond interest expense S Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a straight-line amortization table for the bonds' life. (Round your intermediate and final answers to the nearest whole dollar.) Carrying Value Semiannual Period. Unamortized End Premium 01/01/2020 06/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 06/30/2024 12/31/2024 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 Prepare the journal entries to record the first two interest payments. View transaction list View journal entry worksheet LAR No Debit Credit Date June 30 Gal Journal No Transaction Recorded 1
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