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Ellis Company issues 8.0%, five-year bonds dated January 1,2021, with a $530,000 par value. The...

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Accounting

Ellis Company issues $8.0 %,$ five $-$ year bonds dated January $1, 2021,$ with a $ $530, 000$ par value. The bonds pay interest on June $30$ and December $31$ and are issued at a price of $ $575, 210 .$ The annual market rate is $6 %$ on the issue date.

Required:

Calculate the total bond interest expense over the bonds' life.

Prepare a straight $-$ line 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 $3$

Prepare a straight $-$ line amortization table for the bonds' life.

Note: Round your intermediate and final answers to the nearest whole dollar.

$\$ table $[[\$ table $[[$ Semiannual Interest $], [$ Period $-$ End $]], \$ table $[[$ Unamortized $], [$ Premium $]],$ Carrying Value $], [\frac{01}{01} \frac{?}{2021},,], [\frac{06}{30} \frac{?}{2021},,], [\frac{12}{31} \frac{?}{2021},,], [\frac{06}{30} \frac{?}{2022},,], [\frac{12}{31} \frac{?}{2022},,], [\frac{06}{30} \frac{?}{2023},,], [\frac{12}{31} \frac{?}{2023},,], [\frac{06}{30} \frac{?}{2024},,], [\frac{12}{31} \frac{?}{2024},,], [\frac{06}{30} \frac{?}{2025},,], [\frac{12}{31} \frac{?}{2025},,]]$

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