A company issues $9\%,11-$year bonds with a face amount of $$80,000$ for $$85,781$ on January $1,2024.$ The market interest rate for bonds of similar risk and maturity is $8\%.$ 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. Do not round intermediate calculations. Round your answers to the nearest dollar amount.$)$

Journal entry worksheet

$1$

$2$

Record the bond issue.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,,$General Journal,Credit$],[$January $01,2024,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$