QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%,10-year bonds with a par value of $240,000 and semiannual interest payments, On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 881/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. Journal entry worksheet Record the issue of bonds with a par value of $240,000. Note: Enter debits before credits