ezto.mheducation.com + Chapter 14 - Homework i Saved Help Save & Exit Submit Check my work 4 Legacy issues $550,000 of 9.5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $507,301 when the market rate is 12%. 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 journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required Required Required Required 2 3 Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: ount repaid: payments I of Par value at maturity Total repaid Less amount borrowed Total bond interest expense