Concord Limited issued $$4,500,000$ of $10-$year, $7\%$ bonds on January $1,2024,$ when the market interest rate was $8\%.$ Concord received $$4,194,232$ when it issued these bonds. Interest is payable semi$-$annually on July $1$ and January $1.$ Concord has a December $31$ year end.

$($a$)$

Record the issue of the bonds on January $1,2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$

Date Account Titles

Debit

Credit

Jan: $1$

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List of Accounts