Ellis Company issues 7.5%, five-year bonds dated January 1, 2019, with a $590,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $627,746. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to 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.

5 Ellis Company issues 7.5%, five-year bonds dated January 1, 2019, with a $590,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $627,746. The annual market rate is 6% on the issue date. Required: 2 points Skipped 1. Complete the below table to 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 References Required 1 Required 2 Required 3 Complete the below table to 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 1 Required 2 5 Required 1 Required 2 Required 3 Prepare a straight-line amortization table for the bonds' life. 2 points Semiannual Period- End Unamortized Premium Skipped Carrying Value 01/01/2019 06/30/2019 eBook 12/31/2019 Print 06/30/2020 References 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023