CoursHeroTranscribedText: Ch 10: Quiz, Long-term liabilities i Saved Help Save & Exit Submit Check my work 4 A corporation issues 12%, 15-year bonds with a par value of $520,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 118 1/4. 1.8 Prepare the journal entry for issuance of these bonds for cash on January 1. points 01:25:23 View transaction list Journal entry worksheet eBook Record the issue of bonds with a par value of $520,000 at a selling price of 118 1/4. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal Mc Graw Hill