On December $31,2024,$ when the market interest rate is $8\%,$ Kennedy Realty issues $$650,000$ of $5\mathrm{.}25\%,10-$year bonds payable. The bonds pay interest semiannually. The present value of the bonds at issuance is $$528,279.$

Requirements

Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. $($Round to the nearest dollar.$)$

Using the amortization table prepared in Requirement $1,$ journalize issuance of the bonds and the first two interest payments.

Requirement $1.$ Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. $($Round to the nearest dollar.$)$

$\backslash$table$[[,$Interest,Premium,Carrying,$],[,$Cash Paid,Expense,Amortized,Amount$],[\frac{12}{31}\frac{?}{2024},,,,],[\frac{06}{30}\frac{?}{2025},,,,],[\frac{12}{31}\frac{?}{2025},,,,]]$

Requirement $2.$ Using the amortization table prepared in Requirement $1,$ journalize issuance of the bonds and the first two interest payments. $($Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.$)$

Start by journalizing the issuance of the bonds on December $31,2024.$

$\backslash$table$[[$Start by journalizing the issuance of the,Accounts and Explanation,$],[2024,,],[$Dec$.31,$Cash,Debit$]]$