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Legacy issues $690,000 of 7 0% four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 They are issued

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Legacy issues $690,000 of 7 0% four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 They are issued at $623,078 and their market rate is 10% at the issue date. Required 1. Prepare the January 1,2017, journal entry to record the bonds' issuance 2 Complete the below table to calculate the total bond interest expense to be recognized over the bonds life. 3. Prepare an effective interest amortization table for the bonds' first two years 4. Prepare the journal entries to record the first two interest payments Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Prepare an effective interest amortization table for the bonds' first two years annual Cash Interest Bond Interest Discount Unamortized Carrying Value S66,922S 623,078 620,736 Paid Expense Amortization Discount Period End 01/01/2017 06/30/2017$ 12/31/2017 06/30/2018 s 21 8ofs 24,150 24.150 24,150 2,342 64,580

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