Mitchell Inc. issued $180$ of its $6\%,$ $$1,000$ bonds on January $1$ of Year $1.$ The bonds pay cash interest semiannually each June $30$ and December $31$ and were issued to yield $5\%.$ The bonds mature in five years on December $31,$ and the company uses the effective interest method to amortize bond discounts or premiums. Required a$.$ Determine the selling price of the bonds. b$.$ Prepare an amortization schedule for the first two years of the bond term. c$.$ Prepare journal entries on the following dates. $1.$ January $1$ of Year $1,$ bond issuance. $2.$ June $30$ of Year $1,$ interest payment. $3.$ December $31$ of Year $1,$ interest payment. Bond Selling Price Amortization Schedule Journal