Concord Hills Ltd$.$ issued five$-$year bonds with a face value of $$180,000$ on January $1.$ The bonds have a coupon interest rate of $5\%$ and interest is paid semi$-$annually on June $30$ and December $31.$ The market interest rate was $3\%$ when the bonds were issued at a price of $109.$

Determine the balance in the Bonds Payable account immediately following the first interest payment.

Balance in bonds payable account