Legacy issues $590,000 of 75%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $542,310 when the market rate is 10% Problem 10-4A (Algo) Part 1 Required: 1. Prepare the January 1 joumal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $590,000 on lanuary 1,2021 at an issue price of $542,310. Notel Enter debita belore credits. Required information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions dispiayed below] Legacy tssues $590,000 of 7.5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31 . They are issued at $542,310 when the market rate is 10%. Problem 10-4A (Algo) Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. [The following informstion applies to the questions displayed below] Legacy issues $590,000 of 75%, four-year bonds dated January 1,2021, that pay interest semiannually on June 30 and December 31 . They are issued at $542,310 when the market rate is 10% Problem 10.4A (Algo) Part 4 4. Prepare the joumal entries to record the first two interest payments. Journal entry worksheet 2 Record the interest payment and amortization on June 30. Hote Enter debits before credits