on January $1,2023,$ Pharaoh Corporation issued $$782,000$ of $7\%$ bonds that are due in $11$ years. The bonds were issued for $$844,313$ and pay interest each July $1$ and   January $1.$The company uses the effective interest method. Assume an effective rate of $6\%.$  

$$$$1. Prepare the company's December $31$ adjustment entry.