Problem 10-4A Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $650,000 of 5.0%, four-year bonds dated January 1,2019 , that pay interest semiannually on June 30 and December 31 . They are issued at $584,361 when the market rate is 8%. Problem 10-4A Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $650,000 on January 1,2019 at an issue price of $584,361. Note: Enter debits before credits. Required informotion Problem 10-4A Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.] Legacy issues $650,000 of 5.0%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $584,361 when the market rate is 8% Problem 10.4A Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life Required information Problem 10-4A Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $650.000 of 5.0%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $584,361 when the market rate is 8%. Problem 10-4A Part 3 3. Prepare a straight-ine amortization table for the bonds' first two years. Problem 10-4A Straight-Line: Amortization of bond discount LOP2 [The following information applies to the questions displayed below] Legacy issues $650,000 of 5.0%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $584,361 when the market rate is 8% Problem 10-4A Part 4 4. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the interest payment and amortization on June 30. Note1 Enter debits before credits. Problem 10-4A Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $650,000 of 5.0%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $584,361 when the market rate is 8%. Problem 10-4A Part 4 4. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the interest payment and amortization on December 31 . Note: Enter debits before credits