On January $1$ of this year, Kona Corporation sold bonds with a face value of $$1,570,000$ and a coupon rate of $7$ percent. The bonds

mature in four years and pay interest semiannually every June $30$ and December $31.$ Kona uses the straight$-$line amortization method

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

& $2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

What bonds payable amount will Kona report on its June $30$ balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

and $2$

Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year. $($If no entry is required

for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your intermediate calculations and final

answers to whole dollars.$)$