Legacy Issues $600,000 of 7.0%, four-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. They are issued at $541,807 when the market rate is 10%. 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. Answer is complete but not entirely correct. 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. (Round your Intermediate and final answers to the nearest whole dollar.) Semiannual Interest Period- Cash Interest Paid Bond Interest Expense End 01/01/2020 4000 Discount Amortization Unamortized Discount Carrying Value 58,193 541,807 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 41 Prepare an effective interest amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Interest Period- End Cash Interest Paid Bond Interest Expense Discount Unamortized Amortization Discount Carrying Value 01/01/2020 $ 58,193 $ 541,807 06/30/2020 $ 21,000 S 28,274 S 7,274 50,919 549,081 12/31/2020 21,000 ( 28,274 7,274 43,645 556,355 06/30/2021 21,000 28,274 7,274 36,371 563,629 12/31/2021 21,000 28,274 7.274 29,097 570,903 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the journal entries to record the first two interest payments. No 1 Date June 30 General Journali Bond interest expense Discount on bonds payable Cash 2 December 31 Bond interest expense. Discount on bonds payable Cash < Required 3 Required 4 Debit Credit 28,274 7,274 21,000 28,274 7,274 x 21,000