Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $648,412 when the market rate is 6%.   Problem 14-4A Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life.     Total bond interest expense over life of bonds: Amount repaid:   payments of     Par value at maturity   Total repaid 0 Less amount borrowed   Total bond interest expense $0

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A: Part a:

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Q: to record the bonds' issuance. 2. Complete the below table to calculate the total bond interest…

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A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

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A: “Hey, since there are multiple requirements posted, we will answer first three requirements. If you…

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A: Introduction: The current rate of return on deposit accounts is known as the market rate of…

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A: Answer with all calculation are as follows

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A: The bonds are issued at premium when market rate is lower than the current yield.