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Legacy issues $660.000 of 5.5%, four-year bonds dated January 1, 2020. that pay interest semiannually on June 30 and December 3 They are issued at
Legacy issues $660.000 of 5.5%, four-year bonds dated January 1, 2020. that pay interest semiannually on June 30 and December 3 They are issued at $604.461 when the market rate is 8%. Requlred: 1. Prepare the Januaty 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond intetest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds first two years 4. Prepare the joumbl 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 recgogized over the bonds' Ife. Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31 They are issued at $604.461 when the market rate is 8%. Requlred: 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' Iff. 3. Prepare an effective interest amortization table for the bonds first two years. 4. Prepare the joumal 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. Notei Round your intermediate and final answers to the naprest whiole doffer
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