Pretzelmanla, Inc., issues 6%, 10-year bonds with a face amount of $52,000 for $52,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet > Record the bond issue on January 1, 2021. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general journal Presented below is a partial amortization schedule for Discount Pizza. (1) (2) (3) (5) Cash Paid for Interest Increase in Carrying Value Interest Expense Period Issue date 1 2 Carrying Value $46,591 46,670 46,752 $1,785 1,785 $1,864 1,867 $79 82 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $51,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account fleid.) View transaction list Journal entry worksheet 1 2 > Record the bond issue. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 3. Interest expense Increases each period because the carrying value of the debt issued at a discount Increases over time. O True O False