Required Information

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Ike Issues $$100,000$ of $13\%,$ three$-$year bonds dated January $1,2021,$ that pay interest semlannually on June $30$ and

December $31.$ They are issued at $$102,462$ when the market rate is $12\%.$

Prepare the journal entries to record the first two interest payments.

Journal entry worksheet

Record the first interest payment on June $30.$

Note: Enter debits before credits.