On January $1,2024,$ for $$17\mathrm{.}3$ million, Marker Company issued $8\%$ bonds, dated January $1,2024,$ with a face amount of $$19\mathrm{.}3$ million. For bonds of similar risk and maturity, the market yield is $10\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

Prepare the journal entry to record interest on June $30,2024,$ using the effective interest method.

Prepare the journal entry to record interest on December $31,2024,$ using the effective interest method.

Complete this question by entering your answers in the tabs below.

Prepare the journal entry to record interest on June $30,2024,$ using the effective interest method.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole dollars not in millions $($i$.$e$.,1,000,000$ not $1).$

Journal entry worksheet