please give me a direct answer. thankyou Heathrow issues $2,600,000 of 5%, 15-ye

Question

please give me a direct answer. thankyou

Heathrow issues $2,600,000 of 5%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,182,390.

Prepare the January 1, 2011, journal entry to record the bonds%u2019 issuance. (Omit the "$" sign in your response.)

For each semiannual period, compute the cash payment. (Omit the "$" sign in your response.)

For each semiannual period, compute the the straight-line premium amortization. (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.)

For each semiannual period, compute the the bond interest expense. (Omit the "$" sign in your response.)

Determine the total bond interest expense to be recognized over the bonds' life. (Omit the "$" sign in your response.)

Prepare the first two years of an amortization table using the straight-line method. (Omit the "$" sign in your response.)

Prepare the journal entries to record the first two interest payments. (Omit the "$" sign in your response.)

please give me a direct answer. thankyou

Heathrow issues $2,600,000 of 5%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,182,390.

Explanation / Answer

debitCash $ $3,182,390.
Debit Discount on bonds payable $-582390
Credit Bonds Payable $ 2,600,000

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Cash payment

(a) $2,600,000 x 5% x 6/12 = $65,000
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straight-line premium amortization. (b) $582390/ 30 = -$19413
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(c) $65,000 + $19413= $84 413

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