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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
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 $2,505,923. 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 2b) For each semiannual period, complete the table below to calculate the straight-line discount 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 ife 4. Prepare the first two years of a straight line amortization table. 5. Prepare the journal entries to record the first two interest payments Hillside issues S1100,000 of 9%, 15-year bonds dated January 1, 2019. that pay interest semiannually on June 36 and December 31 The bonds are issued at a price of S1,346, 395 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 26) For each semiannual period, complete the table below to calculate the straight-line premium amortization 20 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 ife 4. Prepare the first two years of a straight line amortization table 5. Prepare the jouma entries to record the first two interest payments
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