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Problem . .9AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues $690,000 of 70%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31. They are issued it $623.078 when the market fate is 10%. Required: 1. Prepare the Januafy 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Prepare the January 1 journal entry to record the bonds' issuance. Problem 14-9AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legecy issues 5690,000 of 70%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $623,078 when the market rate is 10%. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years: 4. Prepare the joumal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' ife. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Frepare the journal entries to record the first two interest payments. (x) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare an effective interest amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar.) Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Frepare the journal entries to record the first two interest payments. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the first two interest payments