Ellis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. 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. ces Required 1 Required 2 Required 3 Calculate the total bond Interest expense over the bonds' life. Total bond interest expense over life of bonds: Amount repaid payments of Par value at maturity Total repaid 0 Less amount borrowed Total bond interest expense $ 0 Required Required 2 > Ellis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. 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 Requided 2 Required 3 Prepare a straight-line amortization table for the bonds life. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Interest Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 Unamortized Premium Carrying Value $ 5,333 $ 255,333 4,800 254,800 4,267 254,267 3,734 253,734 3,201 253,201 2.668 252,668 2,135 252,135 1,602 251,602 1,069 251,069 536 250,536 0 250,000 12/31/2023 06/30/2024 12/31/2024 06/30/2025 12/31/2025 Required 1 Required 2 Required 3 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet