Joey's Pet Emporium Inc. issued bonds with accrued interest. The bonds are dated January $1,2024.$ The bonds pay interest on January $1$ and July $1$ of each year. A portion of the bonds were repurchased with accrued interest and cancelled subsequent to their issuance. Joey's Pet Emporium has a December $31$ year end, follows ASPE, and uses the straight$-$line method to amortize any premium or discount. Other information pertaining to the bond issue follows:

Issuance price of the bonds: $97$

Maturity value of the bonds: $$5,532,900$

Bond term $($in years$)$: $6$

Coupon rate of the bonds: $8\%$

Bond redemption $($repurchase$)$ price: $96$

Portion of the bond issue that was repurchased and cancelled: March $31,2025$

Date on which bonds were reissued: May $1,2024$

Required:

$1.$ Prepare the journal entry for the issuance of the bonds on May $1,2024.$

$2.$ Prepare any journal entries required on July $1,2024$ and December $31,2024.$

$3.$ Prepare any journal entries required for the redemption of a portion of the bond issue on the applicable date.