Required information

$[$The following information applies to the questions displayed below.$]$

Legacy issues $$710,000$ of $8\mathrm{.}0\%,$ four$-$year bonds dated January $1,2026,$ that pay interest semiannually on June $30$ and December $31.$ They are issued at $$621,812$ when the market rate is $12\%.$

Required:

Prepare the January $1$ journal entry to record the bonds' issuance.

Journal entry worksheet

$1$

Record the issue of bonds with a par value of $$710,000$ on January $1,2026$ at an issue price of $$621,812.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$