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Problem 10-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3

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Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $542,310 and their market rate is 10% at the issue date.

Problem 10-5A Part 4

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

Journal entry worksheet Record the interest payment and amortization on June 30, 2017. Note: Enter debits before credits. General Journal Debit Credit Date Jun 30, 2017 Record entry Clear entry View general journal