Ellis Company issues 70%, five-year bonds dated January 1, 2019 with $580,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $604,741. The annual market rate is 6% on the issue date.

Required:

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

2. Prepare an effective interest amortization table for the bonds' life.

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

10 Ellis Company issues 70%, five-year bonds dated January 1, 2019, with a $580,000 par value. The bonds pay interest on June 30 and December 31 ond are issued at a price of $604741. The annual market rate is 6% on the issue date. Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments sBook P dos Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Compute the total bond interest expense over the bonds' life, Totaltion resten over life of bonds Amount repaid 10 mentor 20.30015 203.000 500 000 783.000 004741 178.250 $ 10 Ellis Company issues 70%, five-year bonds dated January 1, 2019, with a $580,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $604,741. The annual market rate is 6% on the issue date. Required: 1. Compute the total bond interest expense over the bonds life 2. Prepare an effective interest amortization table for the bonds' life 3. Prepare the journal entries to record the first two interest payments. 1 points utlook Complete this question by entering your answers in the tabs below. PA Materences Required 1 Required 2 Required Prepare an effective interest amortization table for the bonds life. Prenum Amortization Unamortized Premium Carrying Value $ 6047411 Semiannual Period Cash Interest Bond interest End Paid Expense 01/01/2019 01/30/2010 12/31/2010 06/30/2020 12/31/2020 06/30/2021 12/312021 06/30/2022 10 Ellis Company issues 70%, five-year bonds dated January 1, 2019, with a $580,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $604,741. The annual market rate is 6% on the issue date Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest amortization table for the bonds' life 3. Prepare the journal entries to record the first two Interest payments 1 points Book Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required Prepare the journal entries to record the first two interest payments. View journal entry worksheet View transaction list NO Date Jun 30, 2019 Debit Credit 1 General Journal Bond interest expense Premium on bonds payable Cash 20,300 2. Dec 31, 2019 Bond interest expense Premium on bonds payable Cash 20.300 MC ran in