On January $1,2024,$ Concord issued $10-$year, $$140,000$ face value, $6\%$ bonds at par. Each $$1,000$ bond is convertible into $30$ shares of Concord $$2$ par value common stock. The company has had $10,000$ shares of common stock $($and no preferred stock$)$ outstanding throughout its life. None of the bonds have been converted as of the end of $2025.($Ignore all tax effects.$)$

$($a$)$

Prepare the journal entry Concord would have made on January $1,2024,$ to record the issuance of the bonds. $($List debit entry before credit entry. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit$],[$Jan$.1,,,],[2024,,]]$

$($b$)$

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