Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 Skip to question [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $116,000 par value on January 1, 2021, at a price of $111,880. The annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. Exercise 10-7 (Algo) Part 2 2. Prepare journal entries to record the first two interest payments