Required information Exercise 10-7 Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below) Duval Co. issues four-year bonds with a S100,000 par value on January 1, 2019, at a price of 895,952. The annual contract rate is 7% and interest is paid semiannually on June 30 and December 31. Exercise 10-7 Part 1 1. Prepare a straight-line amortization table for these bonds. Unamortized Discount Carrying Value Semiannual Period-End 1012019 6/30/2019 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 6/30/2022 12/31/2022 Required information Exercise 10-7 Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below) Duval Co. issues four-year bonds with a S100,000 par value on January 1, 2019, at a price of 895,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31. Exercise 10-7 Part 2 2. Prepare journal entries to record the first two interest payments. View transaction list Journal entry worksheet Note: Enter debits before credits General Journal Debit Credit Date June 30, 2019 Record entry Clear entry View general journal Required information Exercise 10-7 Straight-Line: Amortization table and bond interest expense LO P2 {The following information applies to the questions displayed below) Duval Co. Issues four-year bonds with a $100.000 par value on January 1, 2019, at a price of $95.952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31 Exercise 10-7 Part 2 2. Prepare joumal entries to record the first two interest payments. View transaction list Journal entry worksheet 2 Record the interest payment and discount amortization on December 31, 2019. Note: Enter debits before credits General Journal Debi Credit Date December 31, 2019 Record entry Clear entry View general Journal Required information Exercise 10-7 Straight Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below! Duval Co. Issues four-year bonds with a $100.000 par value on January 1, 2019, at a price of 595,952. The annual contract rate is 7% and interest is paid semiannually on June 30 and December 31 Exercise 10-7 Part 3 3. Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded). View transaction list Journal entry worksheet 1 Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits General Journal Debit Credit Date Dec 31, 2022 Record entry Clearly View general journal