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Dunphy Company issued $$16,000$ of $7\mathrm{.}5\%,10-$year bonds at par value on January $1.$ Interest is paid semiannually each June $30$ and December $31.$

Prepare the entries for $($a$)$ the issuance of the bonds and $(b)$ the first interest payment on June $30.$

Journal entry worksheet

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Record the issuance of the bonds.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$