On January $1,$ Year $1,$ Price Company issued $$383,000$ of five$-$year, $7$ percent bonds at $95.$ Interest is payable annually on December $31.$ The discount is amortized using the straight$-$line method.

Required

Prepare the journal entries to record the bond transactions 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.$)$

Journal entry worksheet

$1$

$2$

$3$

Record the entry for issuance of bonds.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Jan $01,,,],[,,,],[,,,],[,,,],[,,,]]$