Bonds were purchased on January $12020$ for cash. The company uses FV$-$NI $($ASPE$).$ A description of the bonds at the time of purchase was as follows:

Face Value: $$10,000,000$ Presnt Value: $ $10,779,458$

Coupon rate: $6\%,$ paid semi$-$annually

Market rate at Jan $12024$: $5\%$

Maturity: $10$ years

The company uses FV$-$NI $($ASPE$).$

Other information:

The market rate at June $302020$ was unchanged at $5\%$

The market rate at Dec $312020$ was $4\mathrm{.}5\%$

The bonds were later sold on June $302022$ when the market rate was $4\%$

Required:

Prepare the journal entries for dec $312020$