Problem 10-4A Straight-Line: Amortization of bond discount P2 Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 when the market rate is 8%. Problem 10-9AB Effective Interest: Amortization of bond discount P5 Refer to the bond details in Problem 10-4A. Required 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Determine the total bond interest expense to be recognized over the bonds' life. Check (2) $97,819 3. Prepare an effective interest amortization table like the one in Exhibit 10B.1 for the bonds' first two years. (3) 12/31/2022 carrying value, $307,308 4. Prepare the journal entries to record the first two interest payments.