QS 10-6 Journalizing premium bond issuance LO P3 Garcia Company issues 10.0%, 15-year bonds with a par value of $420,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.0%, which implies a selling price of 115. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $420,000 at a selling price of 115. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal