On May $1,2023,$ Pharoah Corporation, a publicly listed corporation, issued $$195,300$ of five$-$year, $8\%$ bonds, with interest payable semi$-$annually on November $1$ and May $1.$ The bonds were issued to yield a market interest rate of $6\%.$ Pharoah uses the effective interest method. Prepare the journal entries to record the first and second interest

the journal entries to record the first and second interest payments on November $1,2023,$ and May $1,2024.($Credit account titles are

automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account $t$

enter $0$ for the amounts. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,275.)$

Date

Account Titles and Explanation

Debit

Credit

Interest Expense

Bonds Payable

Bonds Payable

PV$($issue price$)$ of bonds is $211959$