Garcia Company issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 . Prepare the journal entry for the issuance of these bonds for cash on January 1. ts Skipped View transaction list Journal entry worksheet eBook Record the issue of bonds with a par value of $240,000 at a selling price of Hint 117 . Print Note: Enter debits before credits. Debit Credit Date General Journal References Jan 01 View general journal Clear entry Record entry