Pretzelmania, Incorporated, issues $7\%,10-$year bonds with a face amount of $$70,000$ for $$70,000$ on January $1,2024.$ Interest is paid annually on December $31.$

Required:

& $2.$ 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.$)$

Journal entry worksheet

$1$

$2$

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

Note: Enter debits before credits.

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