Hillside issues $1,000,000 of 6%, 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 $864,113 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. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A to 20 Reg 3 Reg 4 Reg 5 Prepare the January 1, 2017, journal entry to record the bonds issuance. View transaction lit Journal entry worksheet 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. 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. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A to 2C Reg 3 Reg 4 Reqs Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. BE 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 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. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A to 20 Req3 Reg 4 Reg 5 TA Prepare the first two years of an amortization table using straight-line TERRE Carrying Value Semiannual Period. Unamortized End Discount 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Complete this question by entering your answers in the tabs below. Reg 2A to 20 Reg 1 Reg 3 Reg 4 Reg 5 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 2 > 1 Record the first interest payment on June 30, 2017 Note: Enter debits before credits General Journal Debit Credit Date Jun 30, 2017 Record entry Clear entry View general journal Complete this question by entering your answers in Reg 1 Reg 2A to 20 Reg 3 Reg 4 Reg 5 Prepare the fournal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 2 Record the second interest payment on December 31, 2017 Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general Journal
