A company issues $7\%,9-$year bonds with a face amount of $$80,000$ on January $1,2024.$ The market interest rate for bonds of similar risk and maturity is also $7\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

& $2.$ Record the bond issue and first interest payment on June $30,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

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$2$

Record the bond issue.

Note: Enter debits before credits.

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