! Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.) Hillside Issues $2,800,000 of 8%, 15-year bonds dated January 1, 2021, that pay Interest semiannually on June 30 and December 31 Problem 10-1A (Algo) Straight-Line: Amortization of bond discount LO P2 The bonds are issued at a price of $2,419,512. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2) For each semiannual period, complete the table below to calculate the cash payment 2(6) For each semiannual period, complete the table below to calculate the straight-line discount amortization 20 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. Complete this question by entering your answers in the tabs below. complete this question by entering your answers in the tabs below. Reg 1 Req 2A to 20 Reg 3 Req 4 Reg 5 Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet 1 Record the issue of bonds with a par value of $2,800,000 on January 1, 2021 at an issue price of $2,419,512. Note: Enter debits before credits. Date General Journal Dobit Credit January 01 Record entry Clear entry View general Journal ROC Ron A 10 20 Reg 1 Req 2A to 2c Red Reg 4 Reg 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization, and (c) the bond interest expense. (Round your final answers to the nearest whole dollar) Annual Rate Year temiannual cash Interest payment 21) Pur (mality value monds price Discount on Bonds Payable Bemiannual periods Straight line discount amortization 200) Gaman tash payment Discount avantation Bond Interest expense 210 Reg1 Reg 3 > Reg 1 Req 2A to 2C Reg 3 Req 4 Reg 5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repald Less amount borrowed Total bond Interest expenso Req 1 Req 2A to 20 Req3 Req 4 Reg 5 Prepare the first two years of a straight-line amortization table. (Round your intermediate and whole dollar) Semiannual Period. Unamortized Carrying End Discount Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Reg 1 Req 2A to 20 Req3 Req 4 Req 5 Prepare the journal entries to record the first two interest payments. (Round your intermediate and final an dollar) View transaction list Journal entry worksheet N Record the second interest payment on December 31. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general Journal
