Question: Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $67,000 for $73,566 on January 1, 2018. The market interest rate for bonds of

Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $67,000 for $73,566 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31. 1. & 2. Record the bond issue and first interest payment on June 30, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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