Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy Issues $670,000 of 6.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $624,896 when the market rate is 8% Problem 14-4A (Algo) Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet < 1 Record the issue of bonds with a par value of $670,000 on January 1, 2021 at an issue price of $624,896. Note: Enter dabits before credits. Date January 01 General Journal Debit Credit