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 $560,000 of 9.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $507,831 when the market rate is 12% Problem 14-4A (Algo) Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds Issuance View transactions Journal entry worksheet 1 Record the issue of bonds with a par value of 5560,000 on January 1, 2021 at an issue price of $507,831. Problem 14-4A (Algo) Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 CA 0 Problem 14-4A (Algo) Part 3 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 Unamortired Discount Carrying Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Problem 14-4A (Algo) Part 4 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet > Record the interest payment and amortization on June 30. Note: Enter debits before credits General Journal Debit Credit Date June 30