Matt Winne Inc. issued $

$500$

$,$

$000$

$$of

$7$

$\%$

$$seven

$-$

year bonds payable on January

$1$

$,$

$2024$

$.$

$$The market interest rate at the date of issuance was

$6$

$\%$

$,$

$$and the bonds pay interest semiannually. Requirements

How much cash did the company receive upon issuance of the bonds payable? $($Round to the nearest dollar.$)$

Prepare an amortization table for the bond using the effective$-$interest method, through the first two interest

payments. $($Round to the nearest dollar.$)$

Journalize the issuance of the bonds on January $1,2024,$ and the first and second payme,its of the semiannual

interest amount and amortization of the bonds on June $30,2024,$ and December $31,2024.$ Explanations are

not required.