Problem 10-3A (Algo) Straight-Line: Amortizotion of bond premium LO P3 Elis Company issues 6.5%, five year bonds dated January 1,2020 , with a $460,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $469,810. The annual market rate is 6% on the issue date. Required: 1. Calculate the total bond interest expense aver the bonds' life 2. Prepare a straight-line amortization table for the bonds' life 3. Prepare the joumal entries to record the first two interest payments. Total bond interest expense over life of bonds: Amount repaid: \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ payments of } & \\ \hline \multicolumn{1}{|c|}{ Par value at maturity } & \\ \hline Total repaid & & 0 \\ \hline Less amount borrowed & \\ \hline Total bond interest expense & $ \\ \hline \end{tabular} Prepare a straight-line amortization table for the bonds' life. Note: Round your intermediate and final answers to the nearest 1 Record the first interest payment on June 30. 2 Record the second interest payment on December 31