Ellis Company issues fiveyear bonds dated January with a $ par value. The bonds pay interest on June and December and are issued at a price of $ The annual market rate is on the issue date.
Required:
Calculate the total bond interest expense over the bonds' life.
Prepare a straightline amortization table for the bonds' life.
Prepare the journal entries to record the first two interest payments.
Complete this question by entering your answers in the tabs below.
Required
Prepare a straightline amortization table for the bonds' life.
Note: Round your intermediate and final answers to the nearest whole dollar.
tabletableSemiannual InterestPeriodEndtableUnamortizedPremiumCarrying Value
