Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017 Garcia Company issues 10.50%, 15-year bonds with a par value of $430,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.50%, which implies a selling price of 114 1/2. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $430,000. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2017 Record entry Clear entry View general journal