Question: fix the wrong Brief Exercise 9-12 (Algo) Record bond issue at a discount and related annual interest (LO9-5) Pretzelmania, Incorporated issues 6%, 10-year bonds with

fix the wrong

Brief Exercise 9-12 (Algo) Record bond issue at a discount and related annual interest (LO9-5) Pretzelmania, Incorporated issues 6%, 10-year bonds with a face amount of $52,000 for $48,348 on January 1, 2024. 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 on January 1, 2024 and first interest payment on December 31, 2024. (if no entry is required for a 1 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.) No Credit 1 Answer is complete but not entirely correct. Date General Journal Debit January 01, 2024 Cash 48,348 Discount on Bonds Payable 3,652 Bonds Payable 52,000 2 1,692 December 31, 202 Interest Expense Discount on Bonds Payable Cash 132 X 1,560 X

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