TriCities Ltd$.$ issued $1,000,000$ bonds on July $1,2024.$ The Bonds will pay interest of $7\mathrm{.}75\%.$ The interest will be paid on June $30$ and December $31$ each year. The bonds will mature in $20$ years. The bonds sold at $105\mathrm{.}75$

REQUIRED:

Record the issuance of the bonds on July $12024.$

Record the payment of the interest on December $31,2024$

Record the payment of the interest on June $30,2025$

If these bonds were convertible, what type of investor might the bonds attract?