Required information [The following information applies to the questions displayed below.] Legacy...

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Accounting

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[The following information applies to the questions displayed below.]
Legacy issues $590,000 of 7.5%, four-year bonds dated January 1,2021, that pay interest semiannually on June 30 and
December 31. They are issued at $542,310 when the market rate is 10%,
Prepare the journal entries to record the first two interest payments.
Journal entry worksheet
Note: Enter debits before credits.
Journal entry worksheet
1
2
Record the interest payment and amortization on December 31.
Note: Enter debits before credits.
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