Requlred Informetion Problem 14-4A (Algo) 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, 2021, 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 (Algo) Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $710,000 on January 1,2021 at an issue price of $621,812. Note: Enter debits before credits. Requlred Information Problem 14-4A (Algo) 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, 2021, 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 (Algo) Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. Requlred Information Problem 14-4A (Algo) 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, 2021, 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 (Algo) Part 3 3. Prepare a straight-line amortization table for the bonds' first two years. (Round your Intermedlate and flnal answers to the nearest whole dollar.) Requlred Information Problem 14-4A (Algo) 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, 2021, 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 (Algo) Part 4 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. Journal entry worksheet Record the interest payment and amortization on December 31. Note: Enter debits before credits