Hillside issues $2,900,000 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 $3,549,590 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2a) 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 21c) 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 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 $2,900,000 cash on January 1, 2019 at an issue price of $3,549,590. NoteEnter debits before credits General Journal Debit Credit January 01 Hillside issues $2.900,000 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 $3,549,590 Required: 1. Prepare the January 1 journal entry to record the bonds issuance. 2a) 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 2c) 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 5 For each semiannual period, compute (a) the cash payment, (b) the straight line discount amortization, and (c) the bond interest expense. (Round "Unamortized Premium" to whole dollar and use the rounded value for part 485.) Show less 2(a) Par (maturity value Annual Rate Year Semiannual cash interest payment Par maturity Straight line premium 2(b) Bond price Premium on Bonds Payable Semiannual periods Semiannual cash Bond interest 20 Hillside issues $2.900,000 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 $3,549,590 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 Res 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 s Hillside issues $2.900.000 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 $3,549,590 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 2d 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. Reqi Reg 2A to 2C Reg 3 Wing 4 Res Prepare the first two years of a straight-line amortization table (Round your final answers to the nearest whole dollar amount) amortized Premium Carrying Value Semiannual Period End 01/01/2019 06/30/2019 12/31/2019 06/30/2020 12/31/2020 Reg 3 Req5 > Hillside issues $2.900,000 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 $3.549.590 Required: 1. Prepare the January 1journal entry to record the bonds issuance 21a) For each semiannual period, complete the table below to calculate the cash payment 2/6) For each semiannual period, complete the table below to calculate the straight line premium amortization 21 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. Reg1 Reg 2A to 2C Reg 3 Reg 4 Reg . Prepare the journal entries to record the first two interest payments (Round your final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Record the first interest payment on June 30 Note: Enter debuts before credits Date General Journal Debit Credit June 30
