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Duval Company issues four$-$year bonds with a $$100,000$ par value on January $1,2021,$ at a price of $$95,952.$ The annual contract rate is $7\%,$ and interest is paid semiannually on June $30$ and December $31.$

$2.$ Prepare journal entries to record the first two interest payments.

Journal entry worksheet

$1$

$2$

Record the interest payment and discount amortization on June $30,2021.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $30,2021,$Bond interest expense,,$],[,$Discount on bonds payable,,$506],[,$Cash,,$]]$