Pretzelmania, Inc., issues 5%,10-year bonds with a face amount of $62,000 for $62,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid...

2. Chapter 9 Homework. Help

Extracted text: Pretzelmania, Inc., issues 5%,10-year bonds with a face amount of $62,000 for $62,000 on January 1, 2021. 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 and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet 2 1 Record the issuance of bond Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021