4. Prepare the journal entries to record the first two interest payments. Journal entry worksheet Record the interest payment and amortization on June 30. Nate: 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. Netei Enter debits before credits. Problem 10.4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.] Legacy issues $600,000 of 7.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31 . They are issued at $541,807 when the market rate is 10%. Problem 10-4A (Algo) Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. Required information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 The following information applies to the questions displayed below] Legacy issues $600,000 of 7.0%, four-year bonds dated January 1,2021, that pay interest semiannually on June 30 and December 31 . They are issued at $541,807 when the market rate is 10%. Problem 10-4A (Algo) Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Required information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $600,000 of 7.0%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $541,807 when the market rate is 10%. Problem 10-4A (Algo) Part 3 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. Journal entry worksheet Record the issue of bonds with a par value of $600,000 on January 1, 2021 at an issue price of $541,807. Note: Enter debits before credits