Hillside issues $1,400,000 of 5%, 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 $1,209,757. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 1 Reg 2A to 20 Reg 24 to 2C Req3 Reg 3 Req 4 Reg 4 Req 5 For each semiannual period, complete the table below to calculate the cash payment, straight-line discount amortization and bond interest expense. Par (maturity) value $ 1,400,000 Annual Rate 5% Year 6/12 Semiannual cash interest payment $ 35,000 x = Par (maturity) value Bonds price Discount on Bonds Payable 6,341 Semiannual periods Straight-line discount amortization $ 1,400,000 - $ 190,243 = Discount amortization Semiannual cash payment $ 1,400,000 Bond interest expense 6,341 X + = $ Complete the below table to calculate the total bond interest expense to be recognized over the bonds' lite. 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 $ Prepare the first two years of an amortization table using the straight-line method. Carrying Value Semiannual Period- Unamortized End Discount 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Prepare the journal entries to record the first two interest payments. Debit Credit No 1 Date Jun 30, 2017 General Journal Discount on bonds payable