Legacy issues $600,000 of 7.0%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $541,807 when the market rate is 10%. uired: epare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $600,000 on January 1,2021 at an issue price of $541,807. Note: Enter debits before credits