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Problem 10-1A Straight-Line: Amortization of bond discount LO P2 Hillside issues $3,000,000 of 6%, 15 year bonds dated January 1, 2019, that pay interest semiannually
Problem 10-1A Straight-Line: Amortization of bond discount LO P2 Hillside issues $3,000,000 of 6%, 15 year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,592,334 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 discount 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. Complete this question by entering your answers in the tabs below. Red 1 Reg 2A to 20 Req3 Reg 4 Regs
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