Pretzelmania, Incorporated, issues $5\%,20-$year bonds with a face amount of $$68,000$ for $$60,141$ on January $1,2024.$ The market interest rate for bonds of similar risk and maturity is $6\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

& $2.$ Record the bond issue on January $1,2024$ and first interest payment on June $30,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.$)$

Journal entry worksheet

Record the bond issue on January $1,2024.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Joumal,Debit,Credit$],[$January $01,2024,,,],[,,,],[,,,]]$