Pharoah, a crown corporation owned by the government, isuued bonds to finance the construction of the next generation of observation satellites. on january $1,2024,$ pharoah issued a $7\%15-$year bond with a face value of $$168,000,000.$ The bonds will pay interest semi$-$annually on june $30$ and december $31.$ Prepare the journal entries to record the first interest expense for alternatives $($i$),($ii$),$ and $($iii$)$ above. $($Credit account titles are

automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit

i$.$

Interest Expense

Cash

ii$.$

Interest Expense

Notes Payable

iii.

Interest Expense

Notes Payable