Ellis Company Issues 7.0%, five-year bonds dated January 1, 2019, with a $510,000 par value. The bonds pay Interest on June 30 and December 31 and are issued at a price of $531,755. The annual market...

Extracted text: Ellis Company Issues 7.0%, five-year bonds dated January 1, 2019, with a $510,000 par value. The bonds pay Interest on June 30 and December 31 and are issued at a price of $531,755. The annual market rate is 6% on the Isue date. Required: 1. Compute the total bond Interest expense over the bonds' life. 2 Prepare an effective interest amortization table for the bonds' life. 3. Prepare the journal entries to record the first two Interest payments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an effective interest amortization table for the bonds' life. Semiannual Period- Cash Interest Bond Interest Paid Premium Amortization Unamortized Premium Carrying Value End Expense 01/01/2019 21,755 S 531,755 08/30/2019 17,850 12/31/2019 17,850 08/30/2020 12/31/2020 08/30/2021 12/31/2021 08/30/2022 12/31/2022 08/30/2023 12/31/2023 Total < required="" 1="" required="" 3="">