Required information Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.] Legacy issues $730,000 of 7.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $659,199 when the market rate is 10%. View transaction list Journal entry worksheet 1 Record the issue of bonds with a par value of $730,000 on January 1, 2021 at an issue price of $659,199. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal > 2. Determine the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: Total repaid payments of Par value at maturity Less amount borrowed Total bond interest expense 3. Prepare a straight-line amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Unamortized Carrying Value Discount 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet < 1 2 Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date June 30 General Journal Debit Credit