Able Electronics issues $$400,000$ of $6\%,7$ year bonds on January $1,2013.$ The bonds pay

interest semiannually on June $30$ and December $31.$ The bonds are issued at a price of $$380,000.$

Prepare the January $1,2013,$ journal entry to record the bonds' issuance, and prepare the journal entry

necessary on June $30$ and Dec $31$ each year when interest is paid $($Hint: use the Account List $-$ click to pop

open to help you with your journal entries$).$ Round answers to the nearest cent.