Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Hillside issues $2.600.000 of 5\%. 15-year bonds dated January 1, 2020, that pay interest semiannualy 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 $2,246,690. 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 discount amortization. 2ic) 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-ine amortization table. 5. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the issue of bonds with a par value of $2,600,000 cash on January 1 , 2020 at an issue price of $2,246,690. Note: Enter debits before credits. For each femiannual period, compute (a) tha cash parmaent, (b) the straight-line discoupt amortization, and (c) the bend interest expense, fiote] Pound your firal aniwers to the nowarest whole dollar Total bond interest expense over life of bonds: Amount repaid: \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Amount repaid: } \\ \hline \multicolumn{1}{|c|}{ Par value at maturity } & \\ \hline Total repaid & & 0 \\ \hline Less amount borrowed & & 0 \\ \hline Total bond interest expense & \\ \hline \end{tabular} Req 2A to 2C \begin{tabular}{|c|c|c|} \hline SemiannualPeriod-End & UnamortizedDiscount & CarryingValue \\ \hline 01/01/2020 & & \\ \hline 06/30/2020 & & \\ \hline 12/31/2020 & & \\ \hline 06/30/2021 & & \\ \hline 12/31/2021 & & \\ \hline \end{tabular}