The company issues 9% 10 year bond but the FaceTime out of $60,000 for $56,262 on January 1, 2024. The market interest rate for bonds of similar at risk and maturity 10%. Interest is paid semiannually on June 30 and December 31.

A company issues \9, 10 -year bonds with a face amount of \\( \\$ 60,000 \\) for \\( \\$ 56,262 \\) on January 1,2024 , The market interest rate for bonds of similar risk and maturity is \10. Interest is paid semiannually on June 30 and December 31 . Required: 1. \\& 2. Record the bond issue and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select \"No Journal Entry Required\" in the first account field.) Journal entry worksheet 2 Note: Enter debits before credits