Required information [The following information applies to the questions displayed below.] Hillside issues $1,700,000 of 8%,15-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,080,794. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2 (b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2 (c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the January 1 journal entry to record the bonds' issuance. For each semiannual period, compute (a) the cash payment, (b) the straight-line premlum amortization, and (c) the bond interest expens answers to the nearest whole doliar.) Total bond interest expense over life of bonds: Amount repaid: \begin{tabular}{|l|l|c|} \hline \multicolumn{1}{|c|}{ payments of } & \\ \hline \multicolumn{1}{|c|}{ Par value at maturity } & \\ \hline Total repaid & 0 \\ \hline Less amount borrowed & & \\ \hline Total bond interest expense & $ & 0 \\ \hline \end{tabular} Prepare the first two years of a straight-line amortization t whole dollar.) Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the first two interest payments. (Round your intermediate and fi nearest whole dollar.)