On January $1,2024,$ Mania Enterprises issued $12\%$ bonds dated January $1,2024,$ with a face amount of $$21\mathrm{.}0$ million. The bonds mature in $2033(10$ years$).$ For bonds of similar risk and maturity, the market yield is $10\%.$ Interest is paid semiannually on June $30$ and December $31.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Determine the price of the bonds on January $1,2024.$

Prepare the journal entry to record the bond issuance by Mania on January $1,2024.$

Prepare the journal entry to record interest on June $30,2024,$ using the effective interest method.

Prepare the journal entry to record interest on December $31,2024,$ using the effective interest method.