Required information Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3 The following information applies to the questions displayed below. Legacy issues $550,000 of 9.5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31, They are issued at $507,301 and their market rate is 12% at the issue date Problem 14-5A Part 4 4. Prepare the journal entries to record the first two interest payments