Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $579,203 when the market rate is 8%.

1a. Prepare the Jan 01 journal entry to record the bonds' issuance.

date	general journal	debit	credit
jan 01

1b. Determine the total bond interest expense to be recognized over the bond's life.

[blank] payments of [blank]

par value at maturity:

total repaid:

less amount borrowed:

total bond interest expense:

1c. Prepare a straight line amortization table for the bonds' first two years

semiannual period end	unamortized discount	carrying value
1/1/19
6/30/19
12/31/19
6/30/20
12/31/20

1d. Prepare the journal entries to record the first two interest payments.

date	general journal	debit	credit
June 30
dec 31