Straight-Line: Amortization of bond discount Hillside issues $4,000,000 of 6% 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,456,448. Straight Line: Amortization of bond premium Refer to the bond details in Problem 14-2A, except assume that the bonds are issued at a price of $4,895,980. Required 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense. Page 620 3. Determine the total bond interest expense to be recognized over the bonds' life