Non-Markovian dynamics of two interacting two-level qubits coupled to a bosonic bath was previously studied using the quantum-state-diffusion (QSD) equation, where a stochastic state is used to describe the system. In this study, we provide another perspective on this system by deriving the analytic form of the master equation, which describes the system with a reduced density matrix. Then, we validate the master equation by examining entanglement generation and state purity. In addition, with the master equation, we observe the effects from first-order noise and notice that a good asymptotic approximation to the master equation can be made by neglecting the first-order noise.