Garcia Company issues 13.50%, 15-year bonds with a par value of $490,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 11.50%, which implies a selling price of 112 1/4. Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1. Answer is not complete. No Date Debit Credit 1111 General Journal Cash Bonds payable Premium on bonds payable