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Required Information

Exerclse $10-7($Algo$)$ Stralght$-$Line: Amortization table and bond Interest expense LO P$2$

$[$The following Information applles to the questions displayed below.$]$

Duval Company Issues four$-$year bonds with a $$103,000$ par value on January $1,2021,$ at a price of $$99,000.$ The annual

contract rate is $6\%,$ and Interest is pald semlannually on June $30$ and December $31.$

Exercise $10-7($Algo$)$ Part $2$

Prepare journal entrles to record the first two Interest payments.

Journal entry worksheet

Record the interest payment and discount amortization on December ${31}_r$

Note: Enter debits before credits.