On January $1,2024,$ for $$17$ million, Monument Company purchased $10$ year, $10\%$ bonds, dated January $1,2024,$ with a face amount of $$20$ million. For bonds of similar risk and maturity, the market yield is $13\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

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

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

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

Required $1$

Prepare the journal entry to record interest on June $30,2024,$ using the straight$-$line 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 $1).$

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$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit$],[1,1,$Cash,Discount on investment in bonds,$],[,,$Interest revenue,,$],[,,,,]]$