Hillside issues

$2,900,000

of

9%,15

-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31.\ Problem 14-2A (Algo) Straight-Line: Amortization of bond premium LO P3\ The bonds are issued at a price of

$3,549,590

.\ Required:\ 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.\ Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life.\ Prepare the first two years of a straight-line amortization table.\ Prepare the journal entries to record the first two interest payments.\ Complete this question by entering your answers in the tabs below.\ \\\\table[[Req 1,Req

2A

to

2C

,Req 3,Req 4,

Req5

Hillside issues $2,900,000 of 9%,15-year bonds dated January 1,2021, that pay interest semiannually on June 30 and December 31. Problem 14-2A (Algo) Straight-Line: Amortization of bond premium LO P3 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. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense. Note: Round your final answers to the nearest whole dollar