Brief Exercise $9-10($Algo$)$ Record bond issue at a premium and related semiannual interest $($LO$9-5)$

Pretzelmania, Incorporated, issues $5\%,20-$year bonds with a face amount of $$59,000$ for $$67,070$ on January $1,2024.$ The market interest rate for bonds of similar risk and maturity is $4\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

& $2.$ 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.$)$

$\backslash$table$[[***$ Answer is not complete.$],[$No$,$Date,Gen,,Debit,Credit$],[1,$January $01,2024,$Cash,$0,67,070,],[,$Premium on Bonds Payable,$0,8,070$prop,$],[,$Bonds Payable,$0,,75,140$