Garcia Company issues 11.5%, 15-year bonds with a par value of $270,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.5%, which implies a selling price of 115 3/4, Prepare the journal entry for the issuance of these bonds for cash on January 1, View transaction list Journal entry worksheet Record the issue of bonds with a par value of $270,000 at a selling price of 115 3/4 Note: Enter debits before credits Date General Journal Debit Credit Jan 01