Michelle Walker Company issued $$648,000$ of $10\%,20-$year bonds on January $1,2025,$ at $102.$ Interest is payable semiannually on July $1$ and January $1.$ Michelle Walker Company uses the effective$-$interest method of amortization for bond premium or discount. Assume an effective yield of $9\mathrm{.}7705\%.$

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Prepare the journal entries to record the following. $($Round intermediate calculations to $6$ decimal places, e$.$g$.1\mathrm{.}251247$ and final answer to $0$ decimal places, e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

a$.$ The issuance of the

b$.$ The payment of interest and related

The accrual of interest and the relat