(Answered) Questions - pretzelmania inc issues 5 20-year bonds with a

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Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $53,000 for $46,875 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.

Record the bond issue and first interest payment on June 30, 2018.

1) January 1 ,2018

2) June 30,2018

Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $50,000 for $56,839 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31.

Record the bond issue and first interest payment on June 30, 2018

1) January 1 ,2018

2) June 30,2018

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