Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194. Required: 1. Prepare the January 1, 2018, 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 premium 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. Journal entry worksheet Record the issue of bonds with a par value of $1,300,000 cash on January 1, 2018 at an issue price of $1,591,194. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01, 2018 Record entry Clear entry View general journal Reg 1 Req 2A to 20 Reg 3 Req4 Req5 For each semiannual period, complete the table below to calculate the cash payment, straight-line premium amortization and bond int expense. (Round "Unamortized Premium" to whole dollar and use the rounded value for part 4 & 5.) Par (maturity) valuo Annual Rate Year Semiannual cash interest payment Bond price Par (maturity value) Premium on Bonds Payable Semiannual periods Straight-line premium amortization Semiannual cash payment Premium amortization Bond Interest expense Reg 1 Req 2A to 20 Reg 3 Reg 4 Req 5 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 Par value at maturity Total repaid 0 Less amount borrowed Total bond interest expense $ 0 Req 1 Req 2A to 2C Req 3 Reg 4 Req 5 End Prepare the first two years of an amortization table using the straight-line method Semiannual Period- Unamortized Carrying Premium Value 01/01/2018 06/30/2018 12/31/2018 06/30/2019 12/31/2019 Journal entry worksheet Record the first interest payment on June 30, 2018. Note: Enter debits before credits. General Journal Debit Credit Date Jun 30, 2018 Record entry Clear entry View general journal Journal entry worksheet 1 2 Record the second interest payment on December 31, 2018. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2018 Record entry Clear entry View general journal