Xonic Corporation issued $$8\mathrm{.}7$ million of $20-$year, $8$ percent bonds on April $1,2024,$ at $102.$ Interest is paid on March $31$ and September $30$ of each year, and all of the bonds in the issue mature on March $31,2044.$ Xonic's fiscal year ends on December $31.$ Prepare the following journal entries:

Required:

a$.$ April $1,2024,$ to record the issuance of the bonds.

b$.$ September $30,2024,$ to pay interest and to amortize the bond premium.

c$.$ March $31,2044,$ to pay interest, amortize the bond premium, and retire the bonds at maturity $($make two separate entries$).$ Assume an adjusting entry was made on December $31,2043,$ to recognize interest from October $1$ to December $31.$

d$.$ What is the effect of amortizing the bond premium on $(1)$ annual net income and $(2)$ annual net cash flow from operating activities. $($Ignore possible income tax effects.$)$