The Gonzalez Group issued $$900,000$ of $11\%$ bonds on June $30,2024,$ for $$977,220.$

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 $10\%.$

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

Requlred:

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 ls requlred for a transaction$/$event$,$ select $"$No journal entry requlred" In the flrst account fleld.

Journal entry worksheet

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

Note: Enter debits before credits.