$($Alternates are $9-59$ and $9-62.)$ On January $1,20$X$0,$ Washington Park District issued $$20$ million of $5-$year, $6\%$ debentures. Interest is paid semiannually. The market interest rate at issuance was $10\%.$

Compute the proceeds from issuing the debentures.

By using the balance sheet equation format, prepare an analysis of this bond transaction. Show entries for the issuer concerning $($a$)$ issuance, $($b$)$ first semiannual interest payment, and $($c$)$ payment of maturity value.

Show the corresponding journal entries for $($a$),($b$),$ and $($c$)$ in requirement $2.$

Show how the bond$-$related accounts would appear on the balance sheets as of January $1,20$X$0,$ and July $1,20$X$0.$ Assume Washington Park District has already recorded the semiannual interest payment and amortization due on the balance sheet dates.