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Ellis issues 8.0%, five-year bonds dated January 1, 2018, with a $430,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $466,680. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds life. 3. Prepare the journal entries to record the first two interest payments.

Ellis issues 8.0%, five-year bonds dated January 1, 2018, with a $430,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price or $466,680. The annual market rate is 6% on the issue date. Required 1. Complete the below table to calculate the total bond interest expense over the bonds' lite 2. Prepare a straight-line amortization table for the bonds lite 3. Prepare the journal entries to record the first two Interest payments Complete this question by entering your answers in the tabs below Required Required Required Complete the below table to calculate the total bond interest expense over the bonds' life bond interest expense over lifeo bonds Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Required 1 Required 2 >

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