Question: Brief Exercise 9-10 (Algo) Record bond issue at a premium and related semiannual interest (LO95) Pretzelmania, Incorporated, issues 7%, 15-year bonds with a face amount

Brief Exercise 9-10 (Algo) Record bond issue at a premium and related semiannual interest (LO95)

Pretzelmania, Incorporated, issues 7%, 15-year bonds with a face amount of $67,000 for $73,566 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31.

Required:

1. & 2. Record the bond issue on January 1, 2024 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. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.)

Brief Exercise 9-10 (Algo) Record bond issue at a premium and related

Please explain how you calculated the interest.

Thanks!

Journal entry worksheet Record the first interest payment on June 30, 2024. Note: Enter debits before credits

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