On July Ist, $2019$ Challenger Inc purchased $$1,000,000$ bonds of Baseball Inc $6\%$ bonds. The bonds pay annual interest on June ${30}^{th}.$ The market rate of interest on the date of purchase was $4\%.$ The bonds mature on June ${30}^{th},2026($the date that the final interest payment is paid$).$ Challenger Inc accounts for the bonds using the Amortized Cost Method.

Part a$)$ Calculate the price paid by Challenger

Part b$)$ Ignore your answer to part $($a$)$ and assume that the present value of the bonds July $1^{st}2019$ was $$1,120,043,$ prepare the journal entry$($ies$)$ required on July $1$st$,2019$

Part c$)$ Ignore your answer to part $($a$)$ and assume that the present value of the bonds July $I^{st}2019$ was $$1,120,043,$ prepare the journal entry$($ies$)$ required on December $31$ st$,2019$

Part d$)$ Ignore your answer to part $(1)$ and assume that the present value of the bonds July $1$st $2019$ was $$1,120,043,$ prepare the journal entry$($ies$)$ required on June $30$ th$,2020$