Problem 10-2A Straight-Line: Amortization of bond discount P1 P2 Hillside issues $4,000,000 of June 30 and December 31. The bonds are issued at a price of Seaut4,12,932 Required 6% 5-year bonds dated January 1, 2015, that pay interest semiannually on 1. Prepare the January 1, 2015, 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 107 using the straight-line method 5. Prepare the journal entries to record the first two interest payments Check (3) $4,143,552 4) 12/31/2016 carrying value, $3,528,920