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Calculations Marketing Inc. issued 10.5% bonds with a par value of $440,000 and a five-year...

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Calculations Marketing Inc. issued 10.5% bonds with a par value of $440,000 and a five-year life on January 1, 2020 for $448. 494. The bonds pay interest on June 30 and December 31 The market interest rate was 10% on the original issue date. Use TABLE 14A1 and TABLE 14A 2. (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the total bond interest expense over the life of the bonds. Total Intereste 2. Prepare an amortization table using the effective interest method. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Period Ending Cash Interest Paid Period Interest Expense Premium Amort. Unamortized premium Carrying Value Jan 1/20 June 30/20 Dec. 31/20 3. Show the journal entries that Calculations Marketing Inc. would make to record the first two interest payments assuming a December 31 year-end. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet

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