Pretzelmania, Incorporated, issues $7\%,15-$year bonds with a face amount of $$51,000$ for $$55,998$ 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.$)$

Answer is complete but not entirely correct.