On January $1,2024,$ White Water issues $$450,000$ of $6\%$ bonds, due in $20$ years, with interest payable annually on December $31$ each year.

Assuming the market interest rate on the issue date is $7\%,$ the bonds will issue at $$402,327.$

Exercise $9-17($Algo$)$ Part $2$

$2.$ Record the bond issue on January $1,2024,$ and the first two interest payments on December $31,2024,$ and December $31,2025.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.$)1.$ Record the bond issue $2.$ Record the first annual interest payment. $3.$ Record the second annual interest payment.