Otter Products Inc. issued bonds on January 1,2019 . Interest is to be paid semiannually. Other information is as follows: Term in years: Face value of bonds issued: Issue price: Specified interest rate each payment period: Required: 1 Calculate: a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight-line method). 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. 3 Calculate the actual interest rate under the straight-line method of amortization for each six-month period. Round all percentage calculations to two decimal placed. Use the following format: 4 Prepare the journal entry for December 31, 2019