Required information

Problem $9-5$A $($Algo$)$ Record bond issue and related interest $($LO$9-5)$

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

On January $1,2024,$ Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $$540,000$ of $7\%$ bonds, due in $10$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Problem $9-5$A $($Algo$)$ Part $2$

$2.$ If the market interest rate is $8\%,$ the bonds will issue at $$503,306.$ 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 answers to the nearest dollar amount.$)$

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[,$January $01,2024,$Cash,$503,306,],[,,$Bonds Payable,,$450,000],[,,$Premium on Bonds Payable,,$],[,,,,],[,,$June $30,2024,$Interest Expense,$],[,,,,]]$