On $1-1-22,$ when the market rate of interest is $7\%,$ABC Company issued $$6,000,000$ par value, $9\%,$ fiveyear bonds. Interest is payable semiannually on June $30$ and December $31$ of each year.

Required:

a$.$ Compute the issue price of the bonds, on $1-1-22.$

b$.$ Prepare the journal entry to record the bond issuanc, on January $1,2022.$

c$.$ Prepare all the journal entries required on June $30$ and on December $31,2022.$

d$.$ Present in good form on the financial statements of $12-31-2022$ the information relating to the bonds issue.