Oriole Organics Ltd$.$ has a number of commercial greenhouse operations in British Columbia's Fraser Valley. To finance the additional

real estate and greenhouses necessary to meet the increasing demand for the company's products, the company decided to issue

bonds. On January $1,$ it issued five$-$year, semi$-$annual bonds with a face value of $$80,000,000.$ The contract rate on the bonds was $4\mathrm{.}5\%$

and the bonds were issued at $96\mathrm{.}5$ to yield $5\mathrm{.}3\%.$ Interest payments are to be made each June $30$ and December $31.$

Prepare the journal entry to record the bonds' sale on January $1.($Credit account titles are automatically indented when amount is