Required information Problem 14-10AB Effective Interest: Amortization of bond; retiring bonds LO P1, P4, P5, P6 [The following information applies to the questions displayed below.] Ike issues $290,000 of 9%, three-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $297,596. Their market rate is 8% at the issue date. Problem 14-10AB Part 2 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. % Answer is complete but not entirely correct. $ Total bond interest expense over life of bonds: Amount repaid: 6 payments of $ 7,596 Par value at maturity Total repaid Less amount borrowed Total bond interest expense 45,576 290,000 335,576 297,596 37,980 $ 4. Prepare the journal entries to record the first two interest payments. Answer is not complete. Credit No 1 Date Jun 30, 2017 General Journal Bond interest expense Premium on bonds payable Cash Debit 11,904 1,146 13,050 5. Prepare the journal entry to record the bonds' retirement on January 1, 2019, at 98. Answer is not complete. Credit No 1 Date Jan 01, 2019 General Journal Bonds payable Premium on bonds payable Gain on retirement of bonds payable Cash Debit 290,000 2,881 2,919 284,200