On January $1,$ Year $1,$ Bell Corporation issued $$294,000$ of $10-$year, $7$ percent bonds at their face amount. Interest is payable on December $31$ of each year with the first payment due December $31,$ Year $1.$

Required

Prepare all the general journal entries related to these bonds for Year $1$ and Year $2.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$ Record the issue of bonds payable, Record the interest expense for bonds payable for Year $1,$ AND Record the interest expense for bonds payable for Year $2.$