es QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $290,000 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 Journal entry worksheet 1 Record the issue of bonds with a par value of $290,000. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal