Required information [The following information applies to the questions displayed below.] On January 1, 2024, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $500,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 7%, the bonds will issue at $500,000. Record the bond issue on January 1,20 and the first two semiannual interest payments on June 30,2024 , and December 31,2024 . (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)