Exercise $10-16$A $($Static$)$ Straight$-$line amortization for bonds issued at a discount LO $10-4$

On January $1,$ Year $1,$ Price Company issued $$190,000$ of five$-$year, $6$ percent bonds at $96(1)/(2).$ Interest is payable annually on December $31.$ The discount is amortized using the straight$-$line method.

Required

Prepare the journal entries to record the bond transactions for Year $1$ and Year $2.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$