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Please answer all required blanks. Thank you Required information [The following information applies to the questions displayed below.] Hilside issues $4,000,000 of 6%,15-year bonds dated
Please answer all required blanks. Thank you
Required information [The following information applies to the questions displayed below.] Hilside 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 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. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Prepare the January 1 journal entry to record the bonds' issuance. 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. 2 (d) 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. the nearest whole dollar.) 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. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 2(a) For each semlannual 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. Prepare the first two years of a straight-line amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Prepare the journal entries to record the first two interest payments. (Round your intermediate and final answers to the nearest whole dollar.) Journal entry worksheet Record the first interest payment on June 30 . Noten Enter debits before credits Step by Step Solution
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