On January $1,2019,$ Hackman Corporation issued $$1,400,000$ face value $12\%$ bonds dated January $1,2019,$ for $$1,423,060.$ The bonds pay interest

semiannually on June $30$ and December $31$ and are due December $31,2023.$ Hackman uses the straight$-$line amortization method.

Required:

Record the issuance of the bonds and the first two interest payments.