Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $53,000 for $60,203 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.)

Required:

1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.)

• Record the bond issue on January 1, 2021.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
January 01, 2021

• Record the first interest payment on December 31, 2021.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31, 2021