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

Ike issues $$240,000$ of $11\%,$ three$-$year bonds dated January $1,2021,$ that pay interest semiannually on June $30$ and December $31.$ They are issued at $$246,087$ when the market rate is $10\%.$

$4.$ Prepare the journal entries to record the first two interest payments.

Journal entry worksheet

$1$

$2$

Record the first interest payment on June $30.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $30,$Bond interest expense,,$],[,$Premium on bonds paymable,,$],[,$Cash,,$],[,,,],[,,,],[,,,]]$