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Legacy issues $$590,000$ of $7\mathrm{.}5\%,$ four$-$year bonds dated January $1,2021,$ that pay interest semiannually on June $30$ and

December $31.$ They are issued at $$542,310$ when the market rate is $10\%,$

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

Journal entry worksheet

Note: Enter debits before credits.

Journal entry worksheet

$1$

$2$

Record the interest payment and amortization on December $31.$

Note: Enter debits before credits.