$1.$ Downing Company issues $$5,000,000,12\%,10-$year bonds dated January $1,2020$ on April $1,2020$ for $95.$ The bonds pay interest semiannually on June $30$ and December $31.$

a$)$ Make the journal entry to record the sale of the bond $(10$ pts$)$

b$)$ Using the straight$-$line method, make the journal entry to record the interest payment on June $30(10$ pts$)$