Problem 14-2A Straight Line: Amortization of bond premium P3 Refer to the bond details in Problem 14-1A, except assume that the bonds are issued at a price of $4,895.980. Required 1. Prepare the January 1 journal entry to record the bonds issuance. 2. For each seminmal 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 Check (2) 52 704620 4. Prepare the first two years of a straight-line amortization table like Exhibit 14.11. (4) 12/01/2020 carrying value 84,776 516 5. Prepare the joumal entries to record the first two interest payments