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Required information

Part $2$ of $2$

$5$

points

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ White Water issues $$560,000$ of $6\%$ bonds, due in $20$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Assuming the market interest rate on the issue date is $5\%,$ the bonds will issue at $$630,288.$

$2.$ Record the bond issue on January $1,2024,$ and the first two semiannual interest payments on June $30,2024,$ and December $31,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.$)$

Answer is not complete.

$\backslash$table$[[$No$,$Date,Genera,,Debit,Credit$],[1,$January $01,2024,$Cash,$,560,000,],[,$Discount on Bonds Payable,$ox,70,288,],[,$Bonds Payable,,,$630,288$