$!$

Required information

$[$The following information applies to the questions displayed below.$]$

On January $1,2021,$ White Water issues $$600,000$ of $7\%$ bonds, due in $10$ years, with interest payable annually on December $31$ each year.

Assuming the market interest rate on the issue date is $6\%,$ the bonds will issue at $$644,161.$

$2.$ Record the bond issue on January $1,2021,$ and the first two interest payments on December $31,2021,$ and December $31,2022.($If no entry is required for a particula transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.$)$

Journal entry worksheet

$1$

$2$

$3$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,2021,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$