Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $4,895,980. Required: 1. Prepare the January 1journal 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 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' 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. Reg 1 Req 2A to 2C Req3 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 $4,000,000 on January 1, 2021 at an issue price of $4,895,980. Note: Enter debits before credits. Debit General Journal Date Credit January 01 Record entry Clear entry View general journal Reg: Reg 2A to 2c Rega Reg4 Reg 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense. (Round your final answers to nearest whole dollar) Par (maturity value Annual Rate Year Semiannual cash Interest payment 2a) Bond price Par maturity value) Premium on Bonds Payable Semiannual periods Straight-line premium amortization 2) Demiannual cash payment Premium amortiration Bond Interest expense 210) Req 1 Req 2A to 20 Req3 Req 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 View transaction list Journal entry worksheet Record the first interest payment on June 30. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal Journal entry worksheet