Pretzelmania, inc, issues 7%,10 year bonds with a face amount of $70,000 for $70,000 on January 1,2021 . The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31 . Required: 1. \& 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 occount field.) 1 Record the bond issue on January 1, 2021. 2 Record the first interest payment on June 30,2021