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! Required information [ The following information applies to the questions displayed below. ] Hillside issues $ 2 , 9 0 0 , 0 0
Required information
The following information applies to the questions displayed below.
Hillside issues $ of year bonds dated January that pay interest semiannually on June and December
The bonds are issued at a price of $
Required:
Prepare the January journal entry to record the bonds' issuance.
a For each semiannual period, complete the table below to calculate the cash payment.
For each semiannual period, complete the table below to calculate the straightline premium amortization.
c For each semiannual period, complete the table below to calculate the bond interest expense.
Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life.
Prepare the first two years of a straightline amortization table.
Prepare the journal entries to record the first two interest payments.
Complete this question by entering your answers in the tabs below.
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For each semiannual period, compute a the cash payment, b the straightline premium amortization, and c the bond interest expense.
Note: Round your final answers to the nearest whole dollar.
tablePar maturity value,Annual Rate,,Year,,tableSemiannual cashinterest paymentBond price,tablePar maturityvaluetablePremium onBonds PayableSemiannual periods,,tableStraightline premiumamortizationb
tabletableSemiannual cashpaymenttablePremiumamortizationtableBond interestexpense
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