Required information

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

The Square Foot Grill, Incorporated issued $$210,000$ of $10-$year, $7$ percent bonds on July $1,$ Year $1,$ at $102.$ Interest is payable in cash semiannually on June $30$ and December $31.$ The straight$-$line method is used for amortization.

Required

a$.$ Prepare the journal entries to record issuing the bonds and any necessary journal entries for Year $1$ and Year $2.$ Post the journal entries to T$-$accounts. Prepare any necessary closing entries for Year $1.$

Complete this question by entering your answers in the tabs below.

Prepare the journal entries to record issuing the bonds and any necessary journal entries for Year $1$ and Year $2.$ Prepare any necessary closing entries for Year $1.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

Record the issue of bonds payable with premium.