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Requlred Informatlon

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Legacy Issues $$660,000$ of $5\mathrm{.}5\%,$ four$-$year bonds dated January $1,2021,$ that pay Interest semiannually on June $30$ and December $31.$ They are issued at $$648,412$ when the market rate is $6\%.$

$4.$ Prepare the journal entries to record the first two Interest payments.

Journal entry worksheet

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$2$

Record the interest payment and amortization on June $30.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $30,,,],[,,,1],[,,,$IT$],[,,,1H$