ParFour issues $1,700,000 01 10%, 10-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,505,001. Required 1. 2. 3. 4i. 5. Prepare the January 1, 201 1,jouma1 entry to record the bonds' issuance. For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization. and (c) the bond interest expense. Determine the total bond interest expense to be recognized over the bonds' life. Prepare the rst two years of an amortization table like Exhibit 14.7 using the straight-line method. Prepare the journal entries to record the rst two interest payments. Problem 1423 Straight-line amortization of bond discount I'l P2 Chuck (3) $1,394,999 Ml $309012 carrying value. $1,534,251 Refer to the bond details in Problem 14-213. except assume that the bonds are issued at a price of $2,096,466. Required 1. 2. 3. 4. 5. Prepare the January 1, 2011,joumal entry to record the bonds' issuance. For each semiannual period, compute (a) the cash payment, (1)) the straight-line premium armrtim- tion. and (c) the bond interest expense. Determine the total bond interest expense to be recognized over the bonds' life. Prepare the rst two years of an amortization table like Exhibit 14.? using the straightline method. Prepare the journal entries to record the rst two interest payments. Problem 14~3B Straight-line amortization of bond premium PI PI Eli-Ht [31 51.301534 Ml 6809012 carrying val $2,035,997