On January $1,2024,$ Swifty Corp. issued five$-$year bonds with a face value of $$650,000$ and a coupon interest rate of $6\%,$ with interest payable semi$-$annually. Assume that the company has a December $31,2024$ year end and records adjusting entries annually.

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$($a$)$

Record the journal entries relating to the bonds on January $1,$ July $1,$ and December $31,$ assuming that when the bonds were sold, the market interest rate was $5\%.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the question statement. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,275..)$

Date

Account Titles

Debit

Credit

Cash

$650000$