Required information Problem 14-4A Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.) Legacy Issues $710,000 of 8.0%, four year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $621,812 when the market rate is 12%. Problem 14-4A Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet 1 Journal entry worksheet Record the issue of bonds with a par value of $710,000 on January 1, 2019 at an issue price of $621,812. Note: Enter debits before credits. Date General Journal Debit Credit January 01 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 payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 3. Prepare a straight-line amortization table for the bonds' first two years. Semiannual Period- Unamortized End Discount Carrying Value 01/01/2019 06/30/2019 12/31/2019 06/30/2020 12/31/2020 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet