Ike issues $240,000 of 11%, three-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $246,087. When the market rate is 10%.

1a. Prepare the Jan 1 journal entry to record the bonds' issuance.

date	general journal	debit	credit
Jan 01

1b. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. (Just need the [blanks] to be filled in)

total bond	interest expense over	life of bonds:
amount repaid:
[blank]	payments of	[blank]
	pay value at maturity	[blank]
	total repaid
	less amount borrowed	[blank]

1c. Prepare an effective interest amortization table for the bonds' first two years

semiannual interest period end	cash interest paid	bond interest expense	premium amortization	unamortized premium	carrying value
1/1/19	N/A	N/A	N/A
6/30/19
12/31/19
6/30/20					N/A
12/31/20					N/A

1d. Prepare the journal entries to record the first two interest payments.

date	general journal	debit	credit
June 30
Dec 31