Hillside issues $2,400,000 of 9%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,937,590. Required: 1. Prepare the January 1 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 a straight-line amortization table. 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 Reg 3 Reg 4 Reg 5 Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $2,400,000 cash on January 1, 2019 at an issue price of $2,937,590. Chapter 10 Homework Help 5 Reg 1 Reg 2A to 2c Reg 3 Reg 4 Regs 20 paints Prepare the January 1 journal entry to record the bonds" issuance. View transaction et Journal entry worksheet > Paint Record the issue of bonds with a par value of $2,400,000 cash on Januar, 2019 at an issue price of $2,937,590 References Note: Enter debits before credits General Journal Debit Date January 01 Credit 2.937.590 Record entry Clear entry View general Journal Red 2A to 20 > 5 of 5 Mc Graw Complete this question by entering your answers in the tabs below. Reg 1 Req 2A to 20 Reg 3 Reg 4 Reg 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization, and (c) the bond Intereste (Round "Unamortized Premium" to whole dollar and use the rounded value for part 4 & 5.) 2(a) Par (maturity) value Annual Rate Year Semiannual cash Interest payment Par (maturity value) Premium on Bonds Payable Semiannual periods Straight-line premium amortization 2(b) Bond price Semiannual cash payment 2(c) Premium amortization Bond Interest expense Required: 1. Prepare the January 1 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 a straight-line amortization table. 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 2c Reg 3 Reg 4 Reg 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 Less amount borrowed Total bond interest expense 0 $ 0 Req 4 > 5 Required: 1. Prepare the January 1 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 a straight-line amortization table 5. Prepare the journal entries to record the first two interest payments. nts eBook Complete this question by entering your answers in the tabs below. Print Reg 1 Reg 4 Req 2A to 20 Reg 3 Reg 5 Prepare the journal entries to record the first two interest payments. (Round your final answers to the nearest whole dollar amount.) erences View transaction list Journal entry worksheet 1 2 Record the first interest payment on June 30. Note: Enter debits before credits Debit Credit Date General Journal June 30 5 of 5 BB
