Surf's Up is a manufacturer of surfing supplies and training equipment. On January 1, 2021, Surf's Up issues 7%, 10-year bonds with a face amount of $61,000 for $61,000 to finance its new warehouse. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet :......: No Date General Journal Debit Credit 1 61,000 January 01, 2021 Cash Discount on Bonds Payable Bonds Payable 4,270 61,000 2 December 31, 2021 4,270 Interest Expense Discount on Bonds Payable Cash 4,270