Ch10 B Q10-1-4

Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' 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. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Note: Enter debits before credits. Legacy issues \\( \\$ 580,000 \\) of \8.0, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December They are issued at \\( \\$ 507,959 \\) when the market rate is \12. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' 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. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Legacy issues \\( \\$ 580,000 \\) of \8.0, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31. They are issued at \\( \\$ 507,959 \\) when the market rate is \12. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' 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. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of \\( \\$ 580,000 \\) cash on January 1 , 2021 at an issue price of \\( \\$ 507,959 \\). Note: Enter debits before credits. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' 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. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the second interest payment on December 31. Note: Enter debits before credits. Legacy issues \\( \\$ 580,000 \\) of \8.0, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at \\( \\$ 507,959 \\) when the market rate is \12. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' 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. Prepare an effective interest amortization table for the bonds' first two years. Note: Round your intermediate and final answers to the nearest whole dollar