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Ellis Company issues 9.5%, five-year bonds dated January 1, 2019, with a $470.000 par value. The bonds pay interest on June 30 and December 31

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Ellis Company issues 9.5%, five-year bonds dated January 1, 2019, with a $470.000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $498,591. The annual market rate is 8% 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. Complete this question by entering your answers in the tabs below

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