ERSLomt Check my work Problem 10-2A Straight-Line: Amortization of bond discount LO P1, P2 8.5 points Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2017 that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,333,101. eBook Required: 1. Prepare the January 1, 2017. journal entry to record the bonds' Issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method. 5. Prepare the journal entries to record the first two interest payments. Ask Print Complete this question by entering your answers in the tabs below. References Reg1 Req 2A to 20 Req3 Reg 4 - Reqs Prepare the January 1, 2017, journal entry to record the bonds issuance. View transaction list Journal entry worksheet Record the issue of boods with a par value of $2,700,000 cash on January 1, 2017 at an issue price of $2,333,101. Note: Fster debits before credits General Journal Debit Credit Date Jan 01, 2017 Help Save & Submit Check my work Problem 10-2A Straight-Line: Amortization of bond discount LO P1, P2 8.5 points Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2017 that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,333,101. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' Issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method. 5. Prepare the journal entries to record the first two interest payments. Print Complete this question by entering your answers in the tabs below. References Regi Req2A to 20 Req3 Reg4 Regs For each semiannual period, complete the table below to calculate the cash payment, straight line discount amortization and be interest expense. Par (maturity) value Annual Rate Year Semiannual cash Interest payment Straight line discount Bonds price Discount on Bonds Payable Semiannual periods Par (maturity) value amortization Semiannual cash payment Discount amortization Bond interest expense Hel Problem 10-2A Straight-Line: Amortization of bond discount LO P1, P2 8.5 points Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,333,101. eBook Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 200) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method. 5. Prepare the journal entries to record the first two interest payments. Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 20 Reger Req4 Req5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds life Total bond interest expense over life of bonds: Amount repaid: payments of L Par value at maturity Total repaid Less amount borrowed Total bond interest expense Help Save & Exit Sub Check my world Problem 10-2A Straight-Line: Amortization of bond discount LO P1, P2 8.5 points Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,333,101. eBook Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2la) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method, 5. Prepare the journal entries to record the first two interest payments. Ask Print Complete this question by entering your answers in the tabs below. References Reg1 Req 2A to 20 I Reg 3 Reg 4 Reqs Prepare the first two years of an amortization table using the straight-line method. Unamortized Discount Carrying Value Semiannual Period- End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 (Req3 Req5 > Check my w Problem 10-2A Straight-Line: Amortization of bond discount LO P1, P2 8.5 points Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,333,101. eBook Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method. 5. Prepare the journal entries to record the first two interest payments. Ask Print Complete this question by entering your answers in the tabs below. References Reg 1 Req2A to 2C Req3 Reg 4 ReqI Prepare the journal entries to record the first two interest payments View transaction list Journal entry worksheet Record the first interest payment on June 30, 2017. Note: Enter debits before credits Date General Journal Debit Credit Jun 30, 2017 View general journal Clear entry Record entry