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

On January $1,2021,$ Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $$600,000$ of $8\%$ bonds, due in $20$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Required:

$1.$ If the market interest rate is $8\%,$ the bonds will issue at $$600,000.$ Record the bond issue on January $1,2021,$ and the first two semiannual interest payments on June $30,2021,$ and December $31,2021.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$