Hillside issues $2,200,000 of 7%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 1. The bonds are issued at a price of $2,692,790. 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 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 $2,200,000 cash on January 1, 2017 at an issue price of $2,692,790 Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 For each semiannual period, complete the table below to calculate the cash payment, straight-line premium amortization and bond interest expense. (Round "Unamortized Premium" to whole dollar and use the rounded value for part 4 & 5.) Par (maturity) value Annual Rate Year Semiannual cash interest payment Premium on Bonds Payable Straight-line premium amortization Bond price Par (maturity value) Semiannual periods Semiannual cash payment Premiumm amortization Bond interest expense Total bond interest expense over life of bonds: Amount repaid Par value at maturity Total repaid Less amount borrowed Total bond interest expense payments of Semiannual Period- Unamortized Carrying Value End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Premium Record the first interest payment on June 30, 2017. Note: Enter debits before credits. Date General Journal Debit Credit Jun 30, 2017