Ellis Company issues 70%, five-year bonds dated January 1, 2019, with a $580.000 per value. The bonds pay interest on June 30 and December 31 and are issued at a price of $604,741. The annual market rate is 6% on the issue date. Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest 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 2 Compute the total bond interest expense over the bonds' life. Total bond interest expense over lite of bonds: Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Required 2 > Ellis Company issues 70%, five year bonds dated January 1, 2019, with a $580,000 par value December 31 and are issued at a price of $604 741. The annual market rate is 6% on the issu Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest 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 an effective interest amortization table for the bonds' life. Premium Amortization Unamortized Premium Carrying Value Semiannual Period Cash Interest Bond Interest Paid Expense 01/01/2019 End 06/30/2019 12/31/2019 06/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 Total Type here to search Ellis Company issues 7.0%, five-year bonds dated January 1, 2019, with a $580.000 December 31 and are issued at a price of $604741. The annual market rate is 6% or Required: 1. Compute the total bond Interest expense over the bonds' life. 2. Prepare an effective interest 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