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Pretzelmania, Incorporated, issues 6%,10-year bonds with a face amount of $69,000 for $74,378 on January...

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Accounting

Pretzelmania, Incorporated, issues 6%,10-year bonds with a face amount of $69,000 for $74,378 on January 1,2024. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31.
Required:
1. & 2. Record the bond issue on January 1,2024 and first interest payment on June 30,2024.(If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.)

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