Pretzelmanla, Inc., Issues 6%, 10-year bonds with a face amount of $69.000 for $69.000 on January...

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Pretzelmanla, Inc., Issues 6%, 10-year bonds with a face amount of $69.000 for $69.000 on January 1, 2021. The market Interes

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Answer 1

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--Requirement 1 and 2

Date	Accounts title	Debit	Credit
01-Jan-21	Cash	$69,000
	Bonds Payable		$69,000
	(to record issuance)

30-Jun-21	Interest Expense ($69000 x 6% x 6/12)	$2,070
	Cash		$2,070
	(to record first interest payment)

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Answer 2

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