O Required information [The following information applies to the questions displayed below) On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $230,000, 8 percent bond issue for $215,238 The bonds pay interest each December 31 and mature in 10 years Assume Seton Corporation uses the effective interest method to amortize the bond discount Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31 (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar) Answer is complete but not entirely correct. No Date January 01 Credit 1 General Journal Cash Discount on Bonds Payable Bonds Payable SO Debit 215,238 14,762 230,000 December 31 17,219 Interest Expense Discount on Bonds Payable Cash 1,476 18,400