3. If the market interest rate is \( 7 \% \), the bonds will issue at \( \$ 524,820 \). Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)
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Journal entry worksheet
(1)
(2)
\( \square \)
Record the second semiannual interest payment.
Note: Enter debits before credits.
\begin{tabular}{|c|l|l|r|}
\hline Date & \multicolumn{1}{|c|}{ General Journal } & Debit & Credit \\
\hline December 31, 2024 & Interest Expense & & \\
\hline & Premium on Bonds Payable & & \\
\hline & Cash & & 19,600 \\
\hline & & & \\
\hline & & & \\
\hline & & & \\
\hline
\end{tabular}