Crafty Corporation received $$472,088$ of cash upon issuance of $500,$ $$100$ par value bonds. Each bond has a stated rate of $5\%$ and will mature on December $31,2030,7$ years after the issuance of the bonds. Interest is paid annually on December $31.$ The market rate of interest is $6\%.$

Prepare the journal entry for December $31,2026$ and $2027.$