Garcia Company issues 12.5%, 15-year bonds with a par value of $470,000 and semiannual interest payments....

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Garcia Company issues 12.5%, 15-year bonds with a par value of $470,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10.5%, which implies a selling price of 113. Prepare the journal entry for the issuance of these bonds for cash on January 1. Record the issue of bonds with a par value of $470,000 at a selling price of 113. Date General Journal Debit Credit January 01 Garcia Company issues 12.5%, 15-year bonds with a par value of $470,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10.5%, which implies a selling price of 113. Prepare the journal entry for the issuance of these bonds for cash on January 1. Record the issue of bonds with a par value of $470,000 at a selling price of 113. Date General Journal Debit Credit January 01

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