$On$ January $1,2024,$ Bishop Company issued $10\%$ bonds dated January $1,2024,$ with a face amount $of$ $$19\mathrm{.}9$ million. The bonds mature $in2033(10$ years$).$ For bonds $of$ similar risk and maturity, the market yield $is12\%.$ Interest $is$ paid semiannually $on$ June $30$ and December $31.$

Note: Use tables, Excel, $or$ a financial calculator. $(FVof$ $$1,PVof$ $$1,$ FVA $of$ $$1,$ PVA $of$ $$1,$ FVAD $of$ $$1$ and PVAD $of$ $$1)$

Required:

Determine the price $of$ the bonds $on$ January $1,2024.$

Prepare the journal entry $to$ record the bond issuance $by$ Bishop $on$ January $1,2024.$

Prepare the journal entry $to$ record interest $on$ June $30,2024,$ using the effective interest method.

Prepare the journal entry $to$ record interest $on$ December $31,2024,$ using the effective interest method.