Question: A company issues 7% 11-year bonds with a face amount of $70,000 on January 1, 2021. The market Interest rate for bonds of similar risk

A company issues 7% 11-year bonds with a face amount of $70,000 on January 1, 2021. The market Interest rate for bonds of similar risk and maturity is also 7%. Interest is paid semlannually on June 30 and December 31 Required: 1.8 2. Record the bond issue and first Interest payment on June 30, 2021. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the bond issue, Noter Enter debits before credits General Journal Det Credit January 01 2021 Record entry Clear entry View general journal

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