Required information

Problem 10-4A Straight-Line: Amortization of bond discount LO P2

[The following information applies to the questions displayed below.] Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $542,310 when the market rate is 10%.

Problem 10-4A Part 4

4. Prepare the journal entries to record the first two interest payments.