Ellis Company issues $6\mathrm{.}5\%,$ five$-$year bonds dated January $1,2021,$ with a $$250,000$ par value. The bonds pay interest on June $30$ and December $31$ and are issued at a price of $$255,333.$ The annual market rate is $6\%$ on the issue date.

Required:

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

Prepare a straight$-$line amortization table for the bonds' life.

Prepare the journal entries to record the first two interest payments.

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

Required $1$

Required $2$

Required $3$

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

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

$94$wythay