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Problem 10-3A Straight-Line: Amortization of bond premium LO P1, P3 Hiside issues $2400,000 of 9%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2,937,590 Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance 2(a) For each semiannual period, complete the table below to calculate the cash payment 2b) For each semiannual period, complete the table below to calculate the straight-line premium 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' lfe. 4. Prepare the first two years of an amortization table using the straight-line method 5. Prepare the journal entries to record the first two interest payments Complete this question by entering your answers in the tabs below Req1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the January 1, 2017, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $2,400,000 cash on January 1, 2017 at an issue price of $2,937,590. Note: Enter debits before credits Jan 01, 2017 Problem 10-3A Straight-Line: Amortization of bond premium LO P1, P3 Hillside issues $2,400,000 of 9%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $2.937,590 Required: 1. Prepare the January 1, 2017, 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 premium 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' ife 4. Prepare the first two years of an amortization table using the straight-ine method 5. Prepare the journal entries to record the first two interest payments Complete this question by entering your answers in the tabs belovw Req 1 2A to 2CReq 3 Req 4 Req 5 For each semiannual perlod, complete the table below to calculate the cash payment, straight-line premium amortization and bond interest expense. (Round "Unamortized Premium to whole dollar and use the rounded value for part 4 & 9.) r (maturity) value Annual Rate Year Bond price Semiannual periods Req 1 Req 3 > Problem 10-3A Straight-Line: Amortization of bond premium LO P1, P3 Hillside issues S2 400,000 of 9% 15-year bonds dated January 1 2017, that pay interest se The bonds are issued at a price of $2.937590 annually on June 30 and December 31 Required: 1. Prepare the January 1, 2017, 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 premium 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 an amortization table using the straight-line method 5. Prepare the journal entries to record the first two interest payments Complete this question by entering your answers in the tabs below. Rea 1 Rea 2A to 2C Rea 3 Req 4 Req S Total bond interest expense over life of bonds: Amount repaid paymonts of Par value at maturity Total repaid Less amount borrowed K Req 2A to 2C Req 4 ) Problem 10-3A Straight-Line: Amortization of bond premium LO P1, P3 Hillside issues S2400,000 of 9%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31, The bonds are issued at a price of $2.937.590 Required: 1. Prepare the January 1, 2017, 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-ine premium 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 an amortization table using the straight-line method 5. Prepare the journal entries to record the first two interest payments. :s 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 first two years. of an amortization table ssing the straightine methd. l Period Un 01/012017 06/302017 12/31/2017 06/30/20118 12/31/2018 C Req 3 Req 5 > Problem 10-3A Straight-Line: Amortization of bond premium LO P1, P3 Hillside issues S2.400.000 of 9%, 15-year bonds dated January 1, 2017, that pay interest The bonds are issued at a price of $2.937590 sem annually on une 30 and December 3 Required: 1. Prepare the January 1, 2017, journal entry to record the bonds issuance 2a) 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 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 an amortization table using the straight-line method 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 2e Req 3 Req 4 : Prepare the journal entries to record the first two interest payments View transaction list Journal entry worksheet Record the first interest payment on June 30, 2017, Note: Enter debits before credits Jun 30, 2017 The bonds are issued at a price of $2.937590 Required 1. Prepare the January 1, 2017, journal entry to record the bonds issuance 2(a) For each semiannual period, complete the table below to calculate the cash payment 2b) For each semiannual period, complete the table below to calculate the straight-line premium 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 an amortization table using the straight-line method 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 journal entries to record the first two interest payments View transaction list Journal entry worksheet Record the second interest payment on December 31, 2017 Note: Enter debits before credits Dec 31 2017

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