Reporting Financial Statement Effects of Bond Transactions

On January $1,$ McKeown, Inc., issued $$450,000$ of $8\%,9-$year bonds for $$397,397,$ yielding a market $($ yield$)$ rate of $10\%.$ Semiannual interest is payable on June $30$ and December $31$ of each year.

Record the bond issuance, semiannual interest payment, and discount amortization on June $30,$ and semiannual interest payment and discount amortization on December $31,$ using journal entries. Use the

effective interest rate method.

Note: Round your answers to the nearest whole dollar.

b$.$ Post the journal entries to their respective T$-$accounts.

Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account.