On January $1,2024,$ White Water issues $$550,000$ of $5\%$ bonds, due in $15$ years, with interest payable annually on December $31$ each year.

Assuming the market interest rate on the issue date is $6\%,$ the bonds will issue at $$496,585.$

$2.$ Record the bond issue on January $1,2024,$ and the first two interest payments on December $31,2024,$ and December $31,2025.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.$)$

Journal entry worksheet

$1$

$2$

$3$

Record the bond issue.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,2024,,,],[,,,],[,,,]]$