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On January 1, 2018, White Water issues $550,000 of 5% bonds, due in 15 years, with interest payable annually on December 31 each year.

Required: Assuming the market interest rate on the issue date is 5%, the bonds will issue at $550,000. Record the bond issue on January 1, 2018, and the first two interest payments on December 31, 2018, and December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

View transaction list Journal entry worksheet Record the issuance of the bond. Note: Enter debits before credits Date General Journal Debit Credit January 01, 2018 Record entry Clear entry View general journal