Use the following information for the Problems below. (Static) The following information applies to the questions displayed below) Hillside issues $4,000,000 of 6%, 15-year bands dated January 1, 2020, that pay interest semiannually on June 30 and of 2 December 31 Problem 10-2A (Static) Straight-Line: Amortization of bond premium LO P3 The bonds are issued at a price of $4,895,980. Required: 1. Prepare the January journal entry to record the bond issuance. 26) For each semiannual period, complete the table below to calculate the cash payment 26) For each semiannual period, complete the table below to calculate the straight-line premium amortization, 21 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 wife, 4. Prepare the first two years of a straight line amortization table. 5. Prepare the journal entries to record the first two interest payments ances Journal entry worksheet 1 Record the issue of bonds with a par value of $4,000,000 on January 1, 2020 at an issue price of $4,895,980. Note: Enter debits before credits. Goneral Journal Debit Credit Date January 01 Required Information Complete this question by entering your answers in the tabs below. Reg 4 Reg 5 Reg 1 Req ZA to 20 Req3 For each semiannual period, compute (a) the cash payment, (b) tre straight-line premium amortization, and (c) the band interest expense. (Rout dollar) 2(a) Par (maturity value Annual Rate Semiannual cash Year Interest payment 2b) Bond price Par maturity value) Premium on Bonds Payable Semiannual periods Straight line pr amortizati 2(e) Somiannual cash payment Premium amortization Bond Interest expense Complete this question by entering your answers in the tabs below Req 1 Req 2A to 20 Req3 Reg 4 Reg 5 Complete the below table to calculate the total bond interest expense to be Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 $ 0 Record the first interest payment on June 30. Note: Enter debits before credits. General Journal Debit Credit Date June 30 5 Pecorrento Clarat Vinw.conclournal Journal entry worksheet 1 2 Record the second interest payment on December 31. Note: Enter debits before credits. General Journal Debit Credit Date December 31