Southstar Electronics, inc. authorized and issued $$40,000$ of $6\%$ interest$-$bearing bonds on january $1.$ The bonds pay cash interest semiannually on june $30$ and December $31$ and were issued to yield $7\%.$ The bonds mature in three years on December $31,$ and the company amortizes any bond discounts and premiums using the effective interest method.

al Were the bonds issued at face value, discount, or premium?

b$)$ Determine the selling price of the bonds.

Note: Round answer to the nearest whole number.

c$.)$ Prepare an amortization schedule for first year ONLY for the bonds.

Note: Do NOT enter negative numbers.

Note: Round answers to the nearest whole number$-$

$\backslash$table$[[$Date$,$Cash,Interest Expense,Amertiation,Garrying Value$],[$Jan $01,$ Year $1,,,,5],[$June $30,$ Year $1,5,5,5,],[$Dec $31,$ Year $1,,,,]]$

d$)$ Prepare the journal entries on the following dates:

$1.)$ January $1,$ Year $1$ bond issuance.

$2.)$ June $30,$ Year $1$ interest payment.

$3.)$ December $31,$ Year $1$ interest payment.

Note: Do NOT enter negative numbers.

Note: Round answers to the nearest whole number.d$)$ Prepare the journal entries on the following dates:

$1.)$ January $1,$ Year $1$ bond issuance.

$2.)$ June $30,$ Year $1$ interest payment.

$3.)$ December $31,$ Year $1$ interest payment.

Note: Do NOT enter negative numbers.

Note: Round answers to the nearest whole number.

Note: If a line in a journal entry isn't required for a transaction, select $"$N$/$A$"$ as the account name and leave the Dr$.$ or Cr$.$ answer blank $($zero$).$

$\backslash$table$[[,$Account,Debit,Cresit$],[$Jan $01,$ Year $1,\%,,],[,\%,,],[,,,],[,$Io record bondissuance.,,$],[$June $30,$ Year $1,,,],[,,,],[,,,],[,$Io record lune $30$ interest payment.,,$],[$Dec $31,$ Year $1,,,],[,,,],[,,,],[,$Io record December $31$ interest payment.,,$]]$