Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2013, that pay interest semiannually

| September 29, 2018

Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. They are issued at $542,310 and their market rate is 10% at the issue date.1.Prepare the January 1, 2013, 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. (Do not round intermediate calculations.)3.Prepare an effective interest amortization table for the bo

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