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The bonds are issued at a price of $2,570,390. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For
The bonds are issued at a price of $2,570,390. 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 premium amortization. 2(c) 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. Req 1 Req 2A to C toc Req 3 Req 4 Req 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense Note: Round your final answers to the nearest whole dollar. Par (maturity) value 2(a) Annual Rate Year Semiannual cash interest payment Par (maturity Bond price value) Premium on Bonds Payable Straight-line premium Semiannual periods amortization
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