Problem $5-$ Bonding issued late

James Bond Corp. issues a $$2,000,$ five$-$year, $6\%$ bond, dated January $1,2027,$ that pays interest on June $30$ and December $31.$ The market rate of interest is $6\%.$ Due to some regulatory delays the bond is not issued until March $1,2027.$

Please enter debits as positive $($e$.$g$.,1000)$ and credits as negative $($e$.$g$.-1000)$

Do not use $

Do not round intermediary calculations. Round final answer to nearest dollar.

If an account is not applicable, please enter $0.$

a$)$ Provide the necessary journal entry on March $1,2027,$ when the bond is issued. James Bond Corp has adopted a policy of recording any accrued interest to Interest Payable account.

$\backslash$table$[[$ACCOUNT NAME,Amount $($debits are positive, credits negative$)],[$Interest payable,$],[$Bonds payable,$],[$Cash$,],[$Interest expense,$]]$

b$)$ Provide the necessary journal entry on June $30,2027.$

$\backslash$table$[[$ACCOUNT NAME,Amount $($debits are positive, credits negative$)],[$Interest payable,$],[$Bonds payable,$],[$Cash$,],[$Interest expense,$]]$

Intermediate Financial Accounting II

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Midterm Review Package