Question $2$ of $8$

$\mathrm{.}112$

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On January $1\mathrm{.}2025,$ Lily Corporation issued $$1\mathrm{.}450,000$ face value, $7\%,10-$year bonds at $$1\mathrm{.}352\mathrm{.}704.$ This price resulted in an effective$-$interest rate of $8\%$ on the bonds. The bonds pay annual interest, each January $1.$ Lly has a calendar year end.

$($a$)$

Prepare the journal entry to record the issue of the bonds on January $1,2025.($Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the omounts. Ust debit entry before credit entry$).$

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$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

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