On January $1,$ Duffy Enterprises issued $$100,000$ in bonds that mature in $10$ years. The bonds were issued at $95.$ The bonds have a stated interest rate of $8\%.$ The bonds pay interest once per year on December $31.$

Prepare the appropriate journal entry to record the issuance of the bonds. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$