On January 1, 2024, White Water issues $590,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Required: Assuming the bonds issue for $590,000, record the bond issue on January 1, 2024, and the first two interest payments on December 31, 2024, to December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

On January 1,2024 , White Water issues $590,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Required: Assuming the bonds issue for $590,000, record the bond issue on January 1,2024 , and the first two interest payments on December 31, 2024, to December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)