Knowledge Cher On January 1, Duffy Enterprises issued $100,000 in bonds that mature in 10 years. The bonds were issued at 95. The bonds have a stated interest rate of 8%. The bonds pay interest once per year on December 31. Prepare the appropriate journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) X Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 A Cash 95,000 5,000 Premium on Bonds Payable Bonds Payable 100,000