Grouper Corp. purchased $$279,000$ of five$-$year, $4\%$ Hydrocor bonds at $99$ on June $30,2024.$ Grouper Corp. purchased the bonds to earn interest. Interest is paid semi$-$annually each June $30$ and December $31.$ The semi$-$annual amortization amount for the first interest period is $$248$ determined using the effective$-$interest method. At December $31,2024,$ the bonds were trading at $98.$

Prepare the required journal entries on June $30$ and December $31,2024.($Record entries in the order displayed in the problem statement. 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 all debit entries before credit entries.$)$

Date

Account Titles

Debit

Credit

$($To record receipt of interest.$)$

$($To record fair value adjustment.$)$