Legacy issues $730,000 of 70%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31, They are issued at $659,199 and their market rate is 10% at the issue date. Required: . Prepare the January 1, 2017, journal entry to record the bonds'ssuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $730,000 cash on January 1, 2017 at an issue price of $659,199. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Legacy issues $730,000 of 70%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31, They are issued at $659,199 and their market rate is 10% at the issue date. 2. Determine the total bond interest expense to be recognized over the bonds' life Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Legacy issues $730,000 of 70%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31, They are issued at $659199 and their market rate is 10% at the issue date. 3. Prepare a straight-line amortization table for the bonds' first two years. Carrying Value Semiannual Period-Unamortized End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Discount Legacy issues $730,000 of 7.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $659199 and their market rate is 10% at the issue date. 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet Record the interest payment and amortization on June 30, 2017 Note: Enter debits before credits. Date General Journal Debit Credit Jun 30, 2017 Legacy issues $730,000 of 70%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $659,199 and their market rate is 10% at the issue date. 4. Prepare the journal entries to record the first two interest payments View transaction list Journal entry worksheet Record the interest payment and amortization on December 31, 2017 Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2017