The Gonzalez Group issued $$800,000$ of $9\%$ bonds on June $30,2024,$ for $$879,172.$

The bonds were dated on June $30$ and mature on June $30,2044(20$ years$).$

The market yield for bonds of similar risk and maturity is $8\%.$

Interest is paid semiannually on December $31$ and June $30.$

Required:

to $3.$ Prepare the journal entries to record their issuance by The Gonzalez Group on June $30,2024,$ interest on December $31,2024$ and interest on June $30,2025($at the effective rate$).$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$123$

Record the issuance of the bond on June $30,2024.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $30,2024,,,],[,,,]]$

$6$ of $6$

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