Prepare the journal entries for the issuance of the bonds. Assume the bonds are issued for cash on January 1, 2015. Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 1/2. Record the issue of bonds with a par value of $250,000