question 3

Pretzelmania, Incorporated issues 5%, 20-year bonds with a face amount of $50,000 for $44.221 on January 1, 2024. The market Interest rate for bonds of similar risk and maturity is 6%. Interest is pald semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. of 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.)