Exercise $10-5($Algo$)$ Straight$-$Line: Recording bond issuance and discount amortization LO P$2$

Paulson Company issues $10\%,$ four$-$year bonds, on January $1$ of this year, with a par value of $$98,000$ and semiannual interest payments.

Semiannual Period$-$End Unamortized Discount Carrying Value

$(0)$ January $1,$ issuance $ $6,693$ $ $91,307$

$(1)$ June $30,$ first payment $5,85692,144$

$(2)$ December $31,$ second payment $5,01992,981$

Use the above straight$-$line bond amortization table and prepare journal entries for the following.

$($a$)$ The issuance of bonds on January $1.$

$($b$)$ The first interest payment on June $30.$

$($c$)$ The second interest payment on December $31.$