Ellis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $250,000 per 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 dote. 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 interest expense over the bonds' life. Total bond Interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 $ 0 Required 2 > 71 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. eBook Complete this question by entering your answers in the tabs below. Print Required 3 Required 1 Required 2 Prepare a straight-line amortization table for the bonds life. (Round your intermediate and final answers to the nearest whole dollar) references Unamortized Premium Carrying Value Semiannual Interest 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 107 M Next 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. .71 pints Complete this question by entering your answers in the tabs below. Required 1 eBook Required 2 Required 3 Prepare the journal entries to record the first two interest payments. Print View transaction list References Journal entry worksheet Record the first interest payment on June 30. Note: Enter debits before credits Date General Journal Debit Credit June 30 Premium on bonds payable Cash 8,125 1 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. 0.71 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Prepare the journal entries to record the first two interest payments. Print View transaction list References Journal entry worksheet 2 Record the second interest payment on December 31. Note: Enter debits before credits. Debit Credit Date General Journal December 31
