Ivanhoe Company issued $530,000 of 5-year, 6% bonds at 96 on January 1, 2022. The bonds pay interest annually. (a 1) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when a is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 508800 Discount on Bonds Payable Bonds Payable