On January 1, 2018, White Water issues $480,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $429149 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 ansaction/event, select "No journal entry required" in the first account field.)