On 1/1/19 Farquad, Inc. issued a 10-year bond with a par value of $500,000 and an annual stated rate of 6%. Interest is paid semi-annually, and the market rate (yield) is 8%.

Required: What journal entry should be recorded on 1/1/19 for the issuance of the bond?

Remember to include financial statement effects in parentheses. All journal entry lines may not be necessary.

Date	Account	Debit	Credit
1/1/19