Note Computations and Entries $($Straight Line$)$

was issued.

Required:

Prepare the necessary journal entry at January $1,2024.$ If an amount box does not require an entry, leave it blank.

$2024$ Jan. $1$

Record issuance of notes at discount

Prepare the necessary journal entry at June $30,2024.$ If an amount box does not require an entry, leave it blank. If required, round amounts to the nearest dollar.

$2024$ June $30$

Record interest expense

Prepare the necessary journal entry at December $31,2024.$ If an amount box does not require an entry, leave it blank. If required, round amounts to the nearest dollar.

$2024$ December $31$

$|$

Record interest expense

Determine the carrying amount of this note at the end of the fifth year $($December $31,2028).$

$$