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Exercise $10-7($Algo$)$ Straight$-$Line: Amortization table and bond interest expense LO P$2$

$[$The following information applies to the questions displayed below.$]$

Duval Company issues four$-$year bonds with a $$107,000$ par value on January $1,2021,$ at a price of $$102,920.$ The annual

contract rate is $9\%,$ and interest is paid semiannually on June $30$ and December $31.$

Exercise $10-7($Algo$)$ Part $2$

Prepare journal entries to record the first two interest payments.

Journal entry worksheet

Record the interest payment and discount amortization on June $30,2021.$

Note: Enter debits before credits. Exercise $10-7($Algo$)$ Part $2$

Prepare journal entries to record the first two interest payments.

Journal entry worksheet

$1$

Record the interest payment and discount amortization on December $31,$

Note: Enter debits before credits. Exercise $10-7($Algo$)$ Part $3$

Prepare the journal entry for maturity of the bonds on December $31,2024($assume semiannual interest is already recorded$).$

Journal entry worksheet

$1$

Record the entry for payment of the bonds at maturity. $($Assume semiannual

interest is already recorded$).$

Note: Enter debits before credits.

Exercise $10-7($Algo$)$ Straight$-$Line: Amortization table and bond interest expense LO P$2$

$[$The following information applies to the questions displayed below.$]$

Duval Company issues four$-$year bonds with a $$107,000$ par value on January $1,2021,$ at a price of $$102,920.$ The annual

contract rate is $9\%,$ and interest is paid semiannually on June $30$ and December $31.$

Exercise $10-7($Algo$)$ Part $1$

Prepare a straight$-$line amortization table for these bonds.

Note: Round your answers to the nearest dollar amount.