Requirement one record the issue of bonds with a par value of 2,500,000 on January 1st 2021 at an issue price of $3,059,990

Requirement 2A to 2C for each semiannual. Compute the cash payment the straight line premium amortization and the bond interest expense

Requirement 3 complete the below table to calculate the total bond interest expense to be recognized over the Bond's life

Requirement four prepare the first two years of a straight line amortization table

Requirement five prepare the journal entries to record the first two interest payments

[The followng informatton applles to the questlons displayed below. Hillside issues $2,500,000 of 6%,15-year bonds dated January 1, 2021, that pay interest semlannually on June 30 and December 31. Problem 14-2A (Algo) Stralght-Llne: Amortizatlon of bond premlum LOP3 The bonds are issued at a price of $3,059,990. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual perlod, complete the table below to calculate the cash payment. 2 (b) For each semiannual perlod, complete the table below to calculate the stralght-line premium amortization. 2 (c) For each semlannual 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 stralght-line amortization table. 5. Prepare the joumal entrles to record the first two interest payments. Complete this question by entering your answers in the tabs below. Prepare the lanuary 1 journa entry to record the bonds' issuance. Journal entry worksheet