Paulson Company issues $10\%,$ four$-$year bonds, on January $1$ of this year, with a par value of $$98,000$ and semiannual Interest

payments.

Use the above straight$-$line bond amortization table and prepare Journal entries for the following.

$($a$)$ The issuance of bonds on January $1.$

$($b$)$ The first Interest payment on June $30.$

$($c$)$ The second Interest payment on December $31.$

Journal entry worksheet

$1$

$2$

$3$

Record the issue of bonds with a par value of $$98,000$ cash January $1.$