Question: please help with 3, 4 and 1 Problem 10-8AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues $730,000 of 70%, four-year bonds

Problem 10-8AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues $730,000 of 70%, four-year bonds dated January 1, 2020, that pay Interest semiannually on June 30 and December 31 They are issued at $659,199 when the market rate is 10% Required: 1. Prepare the January 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 1 Required 2 Required 3 Required 4 Prepare an effective Interest amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Interest Period End Cash Interest Paid Bond Interest Expenso Discount Amortization Unamortized Discount Carrying Value 650 100 $ 01/01/2020 06/30/2020 12/31/2020 06/30/2021 12/31/2021 70,801 $ 61.951 53,101 44.251 35.401 0 0 Problem 10-8AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues $730,000 of 7.0%, four-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31 They are issued at $659,199 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 journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below
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