Exercise $10-17$A $($Algo$)$ Computing bond interest and price; recording bond issuance LO C$2$

Brin Company issues bonds with a par value of $$500,000.$ The bonds mature in $8$ years and pay $6\%$ annual interest in semiannual payments. The annual market rate for the bonds is $8\%.($Table B$\mathrm{.}1,$ Table B$\mathrm{.}2,$ Table B$\mathrm{.}3,$ and Table B$\mathrm{.}4)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Compute the price of the bonds as of their issue date.

Prepare the journal entry to record the bonds$$ issuance.