Hillside issues $4,000,000 of 8%, 15-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,458,448. Required 1. Prepare the January 1, 2016. journal entry to record the bonds" issuance. 2. For each semiannual period, compute (a) the cash payment. (b) the straight line discount amortization, and (c) the bond interest expense. 3. Determine the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table like Exhibit 10.7 using the straight-line method 5. Prepare the journal entries to record the first two interest payments. Exhibit 10.7 Straight-Line Amortization of Bond Discount Semiannual Period-End Unamortized Discount Carrying Valuet (0) 12/31/2016 (0) 6/30/2017 (2) 12/31/2017 (3) 6/30/2018 (4) 12/31/2018 $3,546 2,659 1.772 885 $ 96,454 97,341 98.228 99,115 100,000 The two columns always sum to par value for a discount bond. Total hond discount of $3,546) less accumulated periodic amortization ($887 per semiannual interest period). Bond par value f $100.000) less unam iscount Adjusted for rounding $104,000 Carrying value $100.000 596.000 LIDZIORS 12/31/2017 1231.2018 530-2010