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Problem 14-1A Straight-Line: Amortization of bond discount 22 Hillside issues S4,000,000 of 6%. 15-year bonds dated January 1, 2019. that pay interest seminntually on June

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Problem 14-1A Straight-Line: Amortization of bond discount 22 Hillside issues S4,000,000 of 6%. 15-year bonds dated January 1, 2019. that pay interest seminntually on June 30 and December 31. The boods are issued at a price of $3,456,445. Required 1. Prepare the Jammy jumal entry to record the bonds issuance. 2. For each semiannual period, computea) 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 a straight-line amortization table like Exhibit 14.2. 5. Prepare the journal entries to record the first two interest payments. Check (354,103562 12002000000 Page 329

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