Pretzelmania, Incorporated, issues 6%, 10-year bonds with a face amount of $66,000 for $71,096 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on December 31, 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.) Answer is not complete. General Journal Debit Credit 71,096 5,096 66,000 No Date 1 January 01, 2024 Cash Discount on Bonds Payable Bonds Payable 2 December 31, 202 Interest Expense 1,777 X Discount on Bonds Payable Cash