Pretzelmania, Inc., Issues 7%, 10-year bonds with a foce amount of $70,000 for $70,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31, Required: 1. & 2. Record the bond issue and first Interest payment on June 30, 2021. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View Journal entry worksheet No Goneral Journal Credit Date January 01, 2021 Cash Bonds Payable 1 Debit 70,000 70.000