On the first day of its fiscal year, Chin Company issued

$$23,700,000$ of five$-$year, $11\%$ bonds to finance its operations of

producing and selling home improvement products. Interest is

payable semiannually. The bonds were issued at a market $($effective$)$

interest rate of $12\%,$ resulting in Chin receiving cash of

$$22,827,720.$Question Content Areaa. $$Journalize the entries to record the

following:If an amount box does not require an entry, leave it blank.