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On January $1,$ Splash City issues $$480,000$ of $6\%$ bonds, due in $15$ years, with interest payable semiannually on June $30$

and December $31$ each year. T$.$ Bone Investment Company $($TBIC$)$ purchases all of the bonds in a private placement.

Assuming the market interest rate on the issue date is $5\%,$ TBIC will purchase the bonds for $$530,233.$

Record the purchase of the bonds by TBIC on January $1$ and the receipt of the first two semiannual interest payments on June $30$

and December $31.($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 whole dollar amount.$)$

Journal entry worksheet

Record the purchase of bonds.

Note: Enter debits before credits.