Doyle Company issued $$500,000$ of $10-$year, $7$ percent bonds on January $1,$ Year $1.$ The bonds were issued at face value. Interest is payable in cash on December $31$ of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $$125,000$ of cash revenue, which was collected on December $31$ of each year, beginning December $31,$ Year $1.$

Required: T$-$accounts for year $1$ and year $2$