On January $1,$ Year $1,$ Sayers Company issued $$267,000$ of five$-$year, $6$ percent bonds at $103.$ Interest is payable semiannually on June

$30$ and December $31.$ The premium 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

Record the issue of bonds payable with premium.

Note: Enter debits before credits.