Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31 Problem 10-2A (Algo) Straight-Line: Amortization of bond premium LO P3 The bonds are issued at a price of $2,447,990. Required: 1. Prepare the January 1journal 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.) 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 a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense. (Round your answers to the nearest whole dollar.) 2(a) Par (maturity) value Annual Rate Year Semiannual cash interest payment 2(b) Bond price Par (maturity value) Premium on Bonds Payable Semiannual periods Straight-line premium amortization 2(c) Semiannual cash payment Premium amortization Bond interest expense 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 Less amount borrowed Total bond interest expense 0 $ 0 Prepare the first two years of a straight-line amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Period- Unamortized Carrying End Premium Value 01/01/2020 06/30/2020 12/31/2020 06/30/2021 12/31/2021 Prepare the journal entries to record the first two interest payments. (Round your intermediate and final answers to the ne dollar.) View transaction list Journal entry worksheet 1 2 2 Record the first interest payment on June 30. Note: Enter debits before credits. General Journal Debit Credit Date June 30 Prepare the journal entries to record the first two interest payments. (Round your intermediate and final answers to the nearest whole dollar) View transaction list Journal entry worksheet