On January $1,$ Renewable Energy issues bonds that have a $$42,000$ par value, mature in six years, and pay $18\%$ interest semiannually on June $30$ and December $31.$

Prepare the journal entry for issuance assuming the bonds are issued at $($a$)99$ and $($b$)103(1)/(2).$

How much interest does the company pay $($in cash$)$ to its bondholders every six months if the bonds are sold at par?