Ellis Company issues $6\mathrm{.}5\%,$ five$-$year bonds dated January $1,2021,$ with a $$460,000$ par value. The bonds pay interest on June $30$ and December $31$ and are issued at a price of $$469,812.$ The annual market rate is $6\mathrm{.}0\%$ on the issue date.

Required:

Compute the total bond interest expense over the bonds' life.

Prepare an effective interest amotization table for the bonds' life.

Prepare the journal entries to rec $0-$ first two interest payments.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Compute the total bond interest expense over the bonds' life.

$\backslash$table$[[$Total bond interest expense over life of bonds:$],[$Amount repaid:$],[$payments of$,,],[$Par value at maturity$],[$Total repaid,,$0],[$Less amount borrowed,,$],[$Total bond interest expense,$$,0]]$