Pretzelmania, Incorporated, issues 6%, 10-year bonds with a face amount of $52,000 for $52,000 on January 1, 2024. 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.)