On January 1, 2013, a company issued 6%, 10-year bonds with a par value of $520,000. 6% is lower than market rate. As a result, the company received $476,350 cash. General Journal Date Required: N 1. 2. Prepare the journal entry to record the issuance of the bonds on January 1, 2013. Using the straight-line method, prepare the journal entry recording the first semiannual interest expense, payment and the amortization of the discount. Account Titles and Explanation GENERAL JOURNAL Debit Credit