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, 2021, that pay Interest semiannually on June 30 and December 31 Problem 14-1A (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(0) 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. 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. Required: 1. Prepare the January 1journal entry to record the bonds' Issuance 2) For each semiannual period, complete the table below to calculate the cash payment 2) For each semiannual period, complete the table below to calculate the straight line discount amortization 2 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. Reg Reg 2A to 20 Reg 3 Reg Reg 5 For each semiannual period, compute (a) the cash payment. (b) the straight-line discount amortization, and (c) the band interest Expense. (Round your final anwers to the nearest whole dollar) 2) Annual Rate Year Par (maturity) value $ 2,600,000 Jemiannual cash Interest payment 65,000 6% 6/12 20) Par (maturity) value 3.182,300 Bonds price $ 2.600,000 Discount on Bonds Payable 5 582.300 Semiannual periods 30 $ Straight line discount amortization 194131 20) Semiannual cash payment $ 65.000 Discount amortization 5 19,413 Bond Interest expense $ 45,587 Regs> 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, 2021, that pay Interest semiannually on June 30 and December 31 Problem 14-1A (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(0) 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. 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. Required: 1. Prepare the January 1journal entry to record the bonds' Issuance 2) For each semiannual period, complete the table below to calculate the cash payment 2) For each semiannual period, complete the table below to calculate the straight line discount amortization 2 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. Reg Reg 2A to 20 Reg 3 Reg Reg 5 For each semiannual period, compute (a) the cash payment. (b) the straight-line discount amortization, and (c) the band interest Expense. (Round your final anwers to the nearest whole dollar) 2) Annual Rate Year Par (maturity) value $ 2,600,000 Jemiannual cash Interest payment 65,000 6% 6/12 20) Par (maturity) value 3.182,300 Bonds price $ 2.600,000 Discount on Bonds Payable 5 582.300 Semiannual periods 30 $ Straight line discount amortization 194131 20) Semiannual cash payment $ 65.000 Discount amortization 5 19,413 Bond Interest expense $ 45,587 Regs>
