ACCT 500 Liabilities Assignment On January 1. 2001, Bradley Corporation issued six-year bonds with a face value of $250,000 and a contract rate of 9%. The annual interest payment dates are January 1. Bradley uses the straight line method of amortizing bond premium or discount and the bonds are sold at $239,111. 1. Prepare the journal entry to record the issue of bonds on January 1. 2001