Els Company issues 7.5%, five-year bonds dated January 1, 2019, with a $520,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $553,271. 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total bond interest expense over the bonds life. Total band Interest expense over life of bonds Amount repaid 10 payments of $ 19,500 $ Par value at maturity Total repaid Less amount borrowed Total bond interest expense $ 195,000 520,000 715,000 715,000 Ellis Company issues 75%, five-year bonds dated January 1, 2019, with a $520,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $553,271. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an effective interest amortization table for the bonds' life. Premium Amortization Unamortid Premium Carrying Value Semiannual Period: Cash Interest Bond Interest End Pald Expense 01/01/2019 06/30/2010 12/31/2019 06/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Journal entry worksheet