On January 1, 2021. White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559740. 2. 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. Round your final answers to the nearest whole dollor.) View transaction list Journal entry worksheet > Record the bond issue Note Enter debits before credits Date General Journal Credit Debit 550740 January 01, 2021 Cash