Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $112,000 par value on January 1, 2021, at a price of $107,870. The annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31. Exercise 10-7 (Algo) Part 2 2. Prepare journal entries to record the first two interest payments. View transaction list

Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $112,000 par value on January 1, 2021, at a price of $107,870. The annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31. Exercise 10-7 (Algo) Part 2 2. Prepare journal entries to record the first two interest payments. Journal entry worksheet 2. Record the interest payment and discount amortization on June 30, 2021. Note: Finter debirs hefore oredits