A company issued 7%, 5 year bonds with a par value of S95 000 The market rate when the bonds were issued was 8% The company received sett bonds Using the effective interest methad the amount of interest expense for the ferst semiannual interest period is cash fr the Mutiple Chace $3.646 04 $7.292 08 $3.800 00 $6.650 00 53325 00 of 70%, four-year bonds dated January 1, 2017 that pay interest semiannually on June 30 and December 31 They are issued at $623,078 and their market rate is 10% at the issue date Required: 1. Prepare the January 1, 2017 journal entry to record the bonds' issuance 2 Complete the below table to calculate the total bond interest expense to be recognized over the bands' life 3. Prepare an effective interest amortization table for the bonds first two years 4. 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 Required 4 Prepare an effective interest amortization table for the bonds' first two years. annual Interest Cash Interest Bond Interest Discount Unamortized Expense Amortization Discount Carrying Value $ 623,078 631,443 639,808 Paid Period-End 01/0112017 06/30/2017 24,150 32,515 $ 1 2/31/2017 06/30/2018 12/31/2018 24.150 24,150 24,150 32,515 32,515 32,515 8,365 8,365 8,365 8,365 C Required 2 Required 4>