Question: please answer and explain Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017.

please answer and explain Prepare the journal entry for the issuance of please answer and explain

Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017. Garcia Company issues 11.00%, 15-year bonds with a par value of $260,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.00%, which implies a selling price of 116 1A. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $260,000. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017

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