On January 1, 2021, 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, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (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 3 Record the issuance of the bond. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general journal View transaction list Journal entry worksheet