Doyle Company issued $$260,000$ of $10-$year, $5$ percent bonds on January $1,$ Year $1.$ The bonds were issued at face value. Interest is payable in cash on December $31$ of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $$61,000$ of cash revenue, which was collected on December $31$ of each year, beginning December $31,$ Year $1.$

a$.$ Prepare the journal entries for these events, including recorded issues of bonds payable, the purchase of land, record the receipt of lease revenue, the interest for bonds payable, and the entry to close revenue and expensesPost the entries to T$-$accounts for Year $1$ and Year $2.($Select $"$cl$"$ for all the closing entries.$)$ for years $1$ and $2,$ and post them to T$-$accounts for Year $1$ and Year $2.$