Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to...
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Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $507,959 when the market rate is 12%. Problem 14-4A (Algo) Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. Answer is complete but not entirely correct. 3. Prepare a straight-line amortization table for the bonds' first two years. (Round your whole dollar.) Record the interest payment and amortization on June 30. Note: Enter debits before credits. Record the interest payment and amortization on December 31. Note: Enter debits before credits
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