Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. Problem 14-1A (Algo) Straight-Line: Amortization of bond discount LO P2 The bonds are issued at a price of $1,641,812. Required: 1. Prepare the January 1journal 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 peried, 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. Prepare the January 1 journal entry to record the bonds' issuance. R e L T Journal entry worksheet Record the issue of bonds with a par value of $1,900,000 on January 1, 2021 at an issue price of $1,641,812. Mote: Enter debits before credits. January 01 d ans Reg 1 Req 2A to 2C Reg 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. Semiannual cash Par (maturity) value Annual Rate Year interest payment 2(a) = Discount on Bonds Semiannual periods Straight-line discount Par (maturity) value Bonds price Payable amortization 2(b) = Semiannual cash Discount Bond interest expense payment amortization 2(c) = Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Reg 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: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense $ Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A to 2C Reqg 3 Reg 4 Reg 5 Prepare the first two years of a straight-line amortization table. Mote: Round your intermediate and final answers to the nearest whole dollar. 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Req3 LT R \fJournal entry worksheet Record the second interest payment on December 31. Mote: Enter debits before credits. December 31 Record entry Clear entry View general journal Lo L Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below ] Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. Problem 14-2A (Algo) Straight-Line: Amortization of bond premium LO P3 The bonds are issued at a price of $2,325,594. Required: 1. Prepare the January 1journal 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 premium amortization. 2(c) For each semiannual pericd, 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 paymenits. Complete this question by entering your answers in the tabs below. Journal entry worksheet Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Reg 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: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense $ \f\fJournal entry worksheet Record the second interest payment on December 31. Mote: Enter debits before credits. December 31 View general journal