Req $2$ to $4$

Prepare the journal entries to record their issuance by The Bradford Company on January $1,2024,$ interest on June $30,$

$2024($at the effective rate$)$ and interest on December $31,2024($at the effective rate$).$

Note: Enter your answers in whole dollars. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in

the first account field.

Show lessThe Bradford Company issued $12\%$ bonds, dated January $1,$ with a face amount of $$97$ million on January $1,2024.$

The bonds mature on December $31,2033(10$ years$).$

For bonds of similar risk and maturity, the market yield is $14\%.$

Interest is paid semiannually on June $30$ and December $31.$

Required:

$1.$ Determine the price of the bonds at January $1,2024.$

$2.$ to $4.$ Prepare the journal entries to record their issuance by The Bradford Company on January $1,2024,$ interest on June $30,2024($at the effective rate$)$ and interest on December $31,2024($at the effective rate$).$