Connect Assignment: Chapter 10 2 Hillside issues $2,300,000 of 8%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,987,457 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 discount 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 anmortization table. 5. Prepare the journal entries to record the first two interest payments. 12 points eBook Print Complete this question by entering your answers in the tabs below. References Req 2A to 2C Req 1 Req 3 Req 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $2,300,000 cash on January 1, 2019 at an issue price of $1,987,457. Note: Enter deblts before credlits. General Journal Date Debit Credit January 01 View general journal Record entry Clear entry 2 Hillside issues $2,300,000 of 8%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,987,457 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance 12 points 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 discount 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. eBook Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 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 Req 2A to 2C Req 4 Connect Assignment: Chapter 10 2 Hillside issues $2,300,000 of 8%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,987,457 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 discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 12 points 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. eBook Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the first two years of a straight-line amortization table. Carryin Value Semiannual Period- Unamortized End Discount 01/01/2019 06/30/2019 12/31/2019 06/30/2020 12/31/2020 Req 3 Req 5 2 Hillside issues $2,300,000 of 8%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,987,457 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 discount amortization. 12 points 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 eBook Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 Record the first interest payment on June 30. Note: Enter debits before credits Date General Journal Debit Credit June 30 Record entry Clear entry View general journal Req 4 Req 5 2 Hillside issues $2,300,000 of 8%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $1,987,457 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 discount 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. 12 points eBook Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 2 Record the second interest payment on December 31 Note: Enter debits before credits Date General Journal Debit Credit December 31 View general journal Record entry Clear entry