On January $1,2025,$ Ayayai Corporation issued $$450,000$ of $7\%$ bonds, due in $10$ years. The bonds were issued for $$423,783,$ and pay

interest each July $1$ and January $1.$ Ayayai uses the effective$-$interest method.

Prepare the company's journal entries for $($a$)$ the January $1$ issuance, $($b$)$ the July $1$ interest payment, and $($c$)$ the December $31$ adjusting

entry. Assume an effective$-$interest rate of $8\%.($Round answers to $0$ decimal places, e$.$g$.38,548.$ 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 the amount is entered. Do not indent

manually. List all debit entries before credit entries.$)$

No$.$

Date

Account Titles and Explanation

Debit

$($a$)$

$($b$)$

$($c$)$