Problem 10-2B Straight-Line: Amortization of bond premium LP3 Refer to the bond details in Problem 10-1B, except assume that the bonds are issued at a price of $4,192,932. Required 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium 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 a straight-line amortization table like Exhibit 10.11. 5. Prepare the journal entries to record the first two interest payments. Check (3) $2,607,068 (4) 6/30/2021 carrying value, $4,073,991 5. Award 100 point On the interest payment dates, what is the dollar amount of the debit to Bonds Interest Expense? (do not use dollar sign) 6. Award: 1.00 point On the interest payment dates, is the Premium on Bonds Payable a debit or a credit? Debit Credit 7 Award: 1.00 point On the interest payment dates, what is the dollar amount to Premium on Bonds Payable? (do not use dollar sign) 8. Award: 1.00 point On the interest payment dates, what is the dollar amount to the credit to Cash? (do not use dollar sign) Problem 10-2B Straight-Line: Amortization of bond premium LP3 Refer to the bond details in Problem 10-1B, except assume that the bonds are issued at a price of $4,192,932. Required 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium 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 a straight-line amortization table like Exhibit 10.11. 5. Prepare the journal entries to record the first two interest payments. Check (3) $2,607,068 (4) 6/30/2021 carrying value, $4,073,991 5. Award 100 point On the interest payment dates, what is the dollar amount of the debit to Bonds Interest Expense? (do not use dollar sign) 6. Award: 1.00 point On the interest payment dates, is the Premium on Bonds Payable a debit or a credit? Debit Credit 7 Award: 1.00 point On the interest payment dates, what is the dollar amount to Premium on Bonds Payable? (do not use dollar sign) 8. Award: 1.00 point On the interest payment dates, what is the dollar amount to the credit to Cash? (do not use dollar sign)