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Pretzelmania Inc issues 5% 10 year bonds with a face amount of $52,000 for $56,251 on January 1, 2012. The market interest rate for bonds

Pretzelmania Inc issues 5% 10 year bonds with a face amount of $52,000 for $56,251 on January 1, 2012. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31.

Record the bond Issue.

Record the first interest payment on June 30 2012.

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