Puggles Company will finance an acquisition by selling a bond. On January 1, 2020, Puggles sold a ten-year, $100,000 bond with a 5% coupon rate. At the time of the sale, current interest rates were 34. The bond makes the annual payment on December 31 of each year. Record the journal entry for the bond issue. Account name Debit Credit Description Record the journal entry for the first payment: Account name Debit Credit Description