On January 1, 2024, Splash City issues $410,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 10%, the bonds will issue at $374,826.
Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024.