Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list View journal entry worksheet No 1 Date January 01 General Journal Cash Discount on bonds payable Bonds payable Debit Credit

Enviro Company issues 10%,10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 881/2. Prepare the journal entry for the issuance of the bonds for cash on January 1