Problem 10-4A Straight-Line: Amortization of bond premium LO P1, P3 Ellis issues 6.5%, five-year bonds dated January 1, 2017, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. The annual market rate is 6% on the issue date. Required . Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds' life 3. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below Required 1Required 2Required 3 Complete the below table to calculate the total bond interest expense over the bonds' life Total bond interest expense over life of bonds Amount repaid: 8 payments of Par value at maturity 8,125 65,000 250,000 315,000 255,333 59,667 Total repaid Less amount borrowed Total bond interest expense Required 1 Required 2 Required 1Required 2Required 3 Prepare a straight-line amortization table for the bonds' life........................ nnual Period- Unamortized Carrying Value Semia End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 06/30/2019 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 Premium Required 1 Required 2 Required 3 Prepare the journal entries to record the first two interest payments... View transaction list View journal entry worksheet Date No General Journal Debit Credit 1Jun 30, 2017 Bond interest expense 8,792 667 Discount on bonds payable Cash 8,125 2Dec 31, 2017Bond interest expense 8,792 Discount on bonds payable 667 Cash 8,125