On January $1,$ when the market interest rate was $9$ percent, Seton Corporation completed a $$150,000,7$ percent bond issue for $$130,746.$ The bonds pay interest each December $31$ and mature in $10$ years. Seton amortizes the bond discount using the straight$-$line method.

Required:

& $2.$ Prepare the required journal entries to record the bond issuance and the first interest payment on December $31.($If no entry required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.$)$

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$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$January $01,$Cash,,$],[,,$Discount on Bonds Payable,,$],[,,$Bonds Payable,,$],[,,,,],[,,$December $31,$Interest Expense,$],[,,$Discount on Bonds Payable,,$],[,,$Cash,,$]]$