On December $31,2018,$ when the market interest rate is $10\%,$ Willis Realty issues $$1,000,000$ of $11\mathrm{.}25\%,10-$year bonds payable. The bonds pay interest semiannually. Willis Realty received $$1,077,988$ in cash at issuance.

Requirements

Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. $($Round to the nearest dollar.$)$

Using the amortization table prepared in Requirement $1,$ journalize issuance of the bonds and the first two interest payments.

Requirement $1.$ Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. $($Round to the nearest dollar.$)$

$\backslash$table$[[,$Interest,$\backslash$table$[[$Carrying$],[$Amount$]]],[,$Cash Paid,Expense,Amortized$],[\frac{12}{31}\frac{?}{2018}$