Problem 9-94A (Algorithmic) Note Computations and Entries (Straight line) On January 1, 2020, Sisek Company borrowed $716,000 with a 10-year, 9.75% note, interest payable semiannually on June 30 and December 31. Cash in the amount of $708,800 was received when the note was issued. Required: 1. Prepare the necessary journal entry at January 1, 2020. 2020 Jan. 1 Record issuance of notes at discount Accounting sumerie field 2. Prepare the necessary journal entry at June 30, 2020. If required, round amounts to the nearest dollar 2020 June 30 Record interest expense 3. Prepare the necessary Journal entry at December 31, 2020. If required, round amounts to the nearest dollar. 2020 December 31 Check My Work 5 more Check My Work uses remaining Previous Next > All work saved Email Instructor Save and Exit Submit Assignment for Grading 0 U O P OLU , TUNDMUS to the nearest dollar 2020 June 30 Record interest expense 3. Prepare the necessary journal entry at December 31, 2020. If required, round amounts to the nearest dollar 2020 December 31 Record interest expense 4. Determine the carrying amount of this note at the end of the fifth year (December 31, 2024). Check My Work S more Check My Work uses remaining Previous Next > All work saved Email Instructor Save and Exit Submit Assignment for Grading H K