A corporation Issues $14\%,15-$year bonds with a par value of $$530,000$ and semlannual interest payments. On the issue date, the annual market rate for these bonds is $12\%,$ which implies a selling price of $\frac{1181}{2}$

Prepare the Journal entry for Issuance of these bonds for cash on January $1.$

Journal entry worksheet

Record the issue of bonds with a par value of $$530,000$ at a selling price of $\frac{1181}{2}.$

Note: Enter debies betare orecis:

$\backslash$table$[[$Date$,$General Joumal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$