Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 3 reach year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559,740. Record the bond issue on January 1, 2024, and the first two interest payments on December 31, 2024, and December 31, 2025. (If entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your hal answers to the nearest whole dollar.)