Exercise $2$:

On January $1,2019,$ JWS Corporation issued

$644,636,$ and pay interest each July $1$ and January $1.$ Assume an effective$-$interest rate of $6\%.$

Required:

Prepare the companys journal entries for

$1-$ The January $1$ issuance.

$2-$ The July $1$ interest payment.

$3-$ The Dec $31$ adjusting entry.