On January $1,2023,$ Kingbird, Inc. issues $$272,000$ of $10-$year, $10\%$ bonds at $99$ percent of face value. Interest is payable annually on December $31.$Prepare the journal entry to record the issuance of the bonds and the journal entry for the amortization of the bond discount and the payment of the interest on December $31,2023($Assume straight$-$line amortization$)$ and prepare the liabilities section of the balance sheet at December $31,2023.$