A company issued $10-$year, $12\%$ bonds, with a par value of $$500,000$ when the market rate was $11\mathrm{.}0\%.$ The issuer received $$530,000$ in cash proceeds. The interest is paid semiannually. The issuer uses straight line amortization for discounts and premiums.

a$.$ Is this bond being issued at face value, a discount, or a premium?

b$.$ On the first semiannual interest date, what amount of cash should be paid to the holders of these bonds for interest?

c$.$ Journalize the issuance of the bonds.