Swiss Inc. sold $15-$year bonds with a total face amount of $$3,000,000$ and a stated rate of $5\%.$ The bonds sold for $$3,102,000$ on January $1,2024,$ and pay interest semiannually on June $30$ and December $31.$ Required:

$1.$ Prepare the entry to recognize the sale of the bonds.

$2.$ Determine the amount of the semiannual interest payment required by the bonds.

$3.$ Prepare the journal entry made by Swiss at June $30,2024,$ to recognize the interest expense and an interest payment.

$4.$ Determine the amount of interest expense for $2024.$

$5.$ Conceptual Connection: If Swiss issued bonds with a variable interest rate, would you expect the market rate of interest $($i$.$e$.,$ yield$)$ to increase, decrease, or stay the same? Why?