Question: Pretzelmania, Incorporated, issues 6 % , 1 0 - year bonds at face amount of $ 5 5 , 0 0 0 on January 1

Pretzelmania, Incorporated, issues 6%,10-year bonds at face amount of $55,000 on January 1,2024. Interest is paid semiannually on June 30 and December 31.
Required:
How will the issuance of the bonds on January 1 and the first interest payment on June 30,2024, affect the financial statements?

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