Stressless, Inc. is authorized to issue $5\%,10-$year bonds payable. On January $1,2024,$ when the market interest rate is $10\%,$ the company issues $$500,000$ of the bonds. The bonds pay interest semiannually.Click the icon to view Present Value of $$1$ table.$)$Click the icon to view Present Value of Ordinary Annuity of $$1$ table.$)($Click the icon to view Future Value of $$1$ table.$)$Click the icon to view Future Value of Ordinary Annuity of $$1$ table.$)$Read the requirements.Tristian Capa$07/05/243$:$53$ PMSubmit testRequirement $1.$ How much cash did the company receive upon issuance of the bonds payable? $($Round to the nearest dollar.$)$Upon issuance of the bonds payable, the company receivedRequirement $2.$ Prepare an amortization table for the bond using the effective$-$interest method, through the first two interest payments. $($Round to the nearest dollar.$)$InterestCash PaidExpenseAmortizedCarryingAmount$01/01/202406/30/202412/31/2024$Requirement $3.$ Journalize the issuance of the bonds on January $1,2024,$ and the first and second payments of the semiannual interest amount and amortization of the bonds on June $30,2024$ and December $31,2024.$ Explanations are not required. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$Journalize the issuance of the bonds.Requirements$=1.$ How much cash did the company receive upon issuance of the bonds payable? $($Round to the nearest dollar.$)$Prepare an amortization table for the bond using the effective$-$interest method, through the first two interest payments. $($Round to thefedrest dollar.Journalize the issuance of the bonds on January $1,2024,$ and the first and second payments of the semiannual interest amount and amortization of the bonds on June $30,2024$ and December $31,2024.$ Explanations are not required.PrintDoneDateAccountsDebitCredit$2024$Jan. $1$Journalize the payment of the first semiannual interest amount and amortization of the bond on June $30,2024.$DateAccountsDebitCredit$2024$Jun. $30$Journalize the payment of the second semiannual interest amount and amortization of the bond on December $31,2024.$DateAccountsDebitCredit$2024$Dec. $31$