On January 1,2024 , White Water issues $520,000 of 5% bonds, due in 15 years, with interest payable annually on December 31 each year. Required: Assuming the bonds issue for $520,000, 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.)