Legacy issues $710,000 of 8.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $621,812 when the market rate is 12%. 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 2 Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date June 30 General Journal Debit Credit Bond interest expense Cash Discount on bonds payable