Duval Co$.$ issues four$-$year bonds with a $$100,000$ par value on January $1,2021,$ at a price of $$95,952.$ The annual contract rate is $7\%,$ and interest is paid semiannually on June $30$ and December $31.$

$1.$ Prepare a straight$-$line amortization table like Exhibit $14\mathrm{.}7$ for these bonds.

$2.$ Prepare journal entries to record the first two interest payments.

$3.$ PreparethejournalentryformaturityofthebondsonDecember$31,2024($assumesemiannualinterest is already recorded$).$