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[The following information applies to the questions displayed below.] Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on
[The following information applies to the questions displayed below.] Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $680,186 when the market rate is 10%. 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. [The following information applies to the questions displayed below.] Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 an December 31. They are issued at $680,186 when the market rate is 10%. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Required information [The following information applies to the questions displayed below.] Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $680,186 when the market rate is 10%. 2. Determine the total bond interest expense to be recognized over the bonds' life. Required information [The following information applies to the questions displayed below.] Legacy issues $740,000 of 7.5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $680,186 when the market rate is 10%. 3. Prepare a straight-line amortization table for the bonds' first two years. Note: Round your intermediate and final answers to the nearest whole dollar. Answer is complete and correct. Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $680,186 when the market rate is 10%. 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. Legacy issues $740,000 of 7.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $680,186 when the market rate is 10%. 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
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