Required information Problem 14-4A Straight-Line: Amortization of bond discount LO P2 (The following information applies to the questions displayed below.] Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $542,310 when the market rate is 10%. Problem 14-4A Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $590,000 on January 1, 2019 at an issue price of $542,310. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal