Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 when the market rate is 8%. Required: Prepare the January 1 journal entry to record the bonds' issuance. Complete the below table to calculate the total bond interest expense to be recognized over the bonds life. Prepare an effective interest amortization table for the bonds first two years. Prepare the journal entries to record the first two interest payments