Hillside issues $2,700,000 of 7%, 15-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,333,101

3) Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. (Negative amounts should be indicated by a minus sign.)

amount repaid:
#	payments of	#
	par value at maturity
total repaid
less amount borrowed
total bond interest expense

4

Prepare the first two years of an amortization table using the straight-line method.

semi annual period end	unamoritized discount	carrying value
01/01/2013	#	#
06/30/2013	#	#
12/31/2013	#	#
06/30/2014	#	#
12/31/2014	#	#

Prepare the journal entries to record the first two interest payments.

Record the first interest payment on June 30, 2013.

Record the second interest payment on December 31, 2013.