Required information [The following information applies to the questions displayed below.] Hillside issues $2,600,000 of 5%,...

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Required information [The following information applies to the questions displayed below.] Hillside issues $2,600,000 of 5%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,246,690. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $2,600,000 on January 1, 2021 at an issue price of $2,246,690. Note: Enter debits before credits Date January 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 6 of 8 Next > Req 1 Req 2A to 2C Req 3 Req 4 Req 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization, and (c) the bond interest expense. Note: Round your final answers to the nearest whole dollar. Par (maturity) value Annual Rate Year Semiannual cash Interest payment 2(a) Par (maturity) value Bonds price Discount on Bonds Payable Straight-line discount Semiannual periods amortization 2(b) Semiannual cash payment Discount amortization Bond interest expense 2(c) Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: Total repaid payments of Par value at maturity Less amount borrowed, Total bond interest expense $ 0 0 Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the first two years of a straight-line amortization table. Note: Round your intermediate and final answers to the nearest whole dollar. Semiannual Period- Unamortized Discount Carrying Value End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Req 3 Req 5 View transaction list Journal entry worksheet 1 2 Record the first interest payment on June 30. Note: Enter debits before credits. Date June 30 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 Record the second interest payment on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry Required information [The following information applies to the questions displayed below.] Hillside issues $2,600,000 of 5%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,246,690. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $2,600,000 on January 1, 2021 at an issue price of $2,246,690. Note: Enter debits before credits Date January 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 6 of 8 Next > Req 1 Req 2A to 2C Req 3 Req 4 Req 5 For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization, and (c) the bond interest expense. Note: Round your final answers to the nearest whole dollar. Par (maturity) value Annual Rate Year Semiannual cash Interest payment 2(a) Par (maturity) value Bonds price Discount on Bonds Payable Straight-line discount Semiannual periods amortization 2(b) Semiannual cash payment Discount amortization Bond interest expense 2(c) Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: Total repaid payments of Par value at maturity Less amount borrowed, Total bond interest expense $ 0 0 Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the first two years of a straight-line amortization table. Note: Round your intermediate and final answers to the nearest whole dollar. Semiannual Period- Unamortized Discount Carrying Value End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Req 3 Req 5 View transaction list Journal entry worksheet 1 2 Record the first interest payment on June 30. Note: Enter debits before credits. Date June 30 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 Record the second interest payment on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry