On July $1,20$Y$1,$ Livingston Equipment Co$.,$ a wholesaler of manufacturing equipment, issued $$46,000,000$ of $20-$year, $10\%$ bonds at a market $($effective$)$ interest rate of $11\%,$ receiving cash of $$42,309,236.$ Interest on the bonds is payable semiannually on December $31$ and June $30.$ The fiscal year of the company is the calendar year.

Required:

For all journal entries, if an amount box does not require an entry, leave it blank.

Journalize the entries to record the following:

a$.$ The first semiannual interest payment on December $31,20$Y$1,$ and the amortization of the bond discount, using the interest method. Round to the nearest dollar.

b$.$The interest payment on June $30,20$Y$2,$ and the amortization of the bond discount, using the interest method. Round to the nearest dollar.

c$.$Determine the total interest expense for $20$Y$1.$ Round to the nearest dollar.