Required information [The following information applies to the questions displayed below.] Legacy issues $640,000 of 8,5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $570,443 when the market rate is 12%. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Record the issue of bonds with a par value of $640,000 on January 1, 2021 at an issue price of $570,443. Note: Enter debits before credits. 4. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the interest payment and amortization on June 30. Note: Enter debits before credits. 4. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the interest payment and amortization on December 31. Note: Enter debits before credits