Sanchez Company issues $8\%,10-$year bonds with a par value of $$250,000$ and

semiannual interest payments. On the issue date, the annual market rate for these

bonds is $8\%.$ Interest is paid on June $30$ and December $31.$

A$.$ Prepare the journal entries for $(1)$ the issuance of the bonds, $(2)$ the first interest

payment of interest on June $30,$ and $(3),$ the second interest payment on

December $31.$ Assume the bonds are issued for cash on January $2,2020.$

B$.$ Calculate total interest expense for this bond.