On October $31,2007$ Herbert signed a $2-$year installment note in the purchase of equipment. This note is payable in equal monthly installments of $$2,354,$ which include interest computed at an annual rate of $12\%.$ The first monthly payment is made on November $30,2007.$ This note is fully amortizing over $24$ months.

Complete the amortization table for the first two payments by entering the correct dollar amounts in the blank spaces provided. In addition, answer the questions that follow.

$\backslash$table$[[\backslash$table$[[$Payment$],[$Date$]],\backslash$table$[[$Monthly$],[$Payment$]],$Interest Expense,$\backslash$table$[[$Repayment of$],[$Principal$]],$Unpaid Balance$],[$Issuance$,---$cdots$---,-------,------,$$$50,000\mathrm{.}00$

Connors Imports re year bonds. The interest payment dates are June $30$ and December $31.$ All the bonds were issued at par, plus accrued interest on February $1,$ Year $2.$ The bonds are callable by Connors at any time at $105.$

$($a$)$ Prepare the journal entry to record the issuance of the bonds on February $1,$ Year $2.$

$($b$)$ Prepare the journal to record the first interest payment on the bonds at June $30,$ Year $2$

$\frac{4,500,0008ic}{\text{G}\text{e}\text{n}\text{e}\text{r}\text{a}\text{l}\text{J}\text{o}\text{u}\text{r}\text{n}\text{a}\text{l}}.360,000\frac{6}{12}$

$($c$)$ What is the amount of bond interest expense reported in Connors Imports' Year $2$ income statement relating to these bonds? $ $360,000$

$($d$)$ What is the amount of bond interest payable appearing in Connors Imports' balance sheet at December $31,$ Year $2,$ with respect to these bonds? $

$($e$)$ Connors exercises the call provision and retires one$-$third of the bond issue on July $1,$ Year $3.$ Prepare the journal entry to record this transaction on July $1,$ Year $3.($above$)$