Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $50,000 for $44,265 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31.

1. & 2. Record the bond issue and first interest payment on December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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Pretzein ani Inc issues 5 20 year bonds with a ace amount of $50 000 for S44 265 on January 1 2018. The market interest rate or bonds o similar k and matunt is %, ne est is a annually on ecember 3 1. & 2. Record the bond issue and first interest payment on December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the first interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018Interest expense on Bonds Payable Record entry Clear entry View general journal