A company issues bonds with a par value of $$500,000$ on January $1,2023.$ The bonds mature in $20$ years, pay $10\%$ annual interest in semiannual payments. On the issue date, the market rate is $8\%.$

Will these bonds issue at par, a discount, or a premium?

What is the issue price of the bonds?

Prepare the journal entry for the bond issue.

What is the amount of bond interest expense on the first interest payment journal entry?

Prepare the journal entry for the first semiannual interest payment.

Prepare the journal entry to pay the bonds at maturity.

What is the total amount of bond interest expense for this bond issue $($over the entire life of the bonds$)?$