On March $1,2019,$ Caligari Conglomerates sold $$250,000,00020-$year bonds with a coupon rate of $12\%$ paid semi$-$annually. The market rate for a security of similar risk and maturity is $10\%.$ Caligari Conglomerates hired Jones and Co$.$ to issue the securities at a cost of $$250,000.$ Record journal entries for the issuance of the bond, the first two interest payments, and any required adjusting entries for the fiscal year ending December $31,2019.$