Problem 14-1A Straight-Line: Amortization of bond discount P2 Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,456,448. 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 discount amortization, and (c) the bond interest expense. 3. Determine the total bond interest expense to be recognized over the bonds' life. Check (3) $4,143,552 4. Prepare the first two years of a straight-line amortization table like Exhibit 14.7. (4) 12/31/2020 carrying value, $3,528,920 5. Prepare the journal entries to record the first two interest payments. Page 529