Legacy issues $$325,000$ of $5\%,$ four$-$year bonds dated January $1,2021,$ that pay interest semiannually on June $30$ and December $31.$ They are issued at $$292,181$ when the market rate is $8\%.$

$4.$ Prepare the journal entries to record the first two interest payments.

Journal entry worksheet

$1$

$2$

Record the interest payment and amortization on June $30.$