! Required information The following information applies to the questions displayed below) On January 1 when the market interest rate was 9 percent, Seton Corporation completed a $180.000, 8 percent bond issue for $168.447 The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective interest method to amortize the bond discount Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field, Round your answers to the nearest whole dollar) Answer is complete but not entirely correct. No Date January 01 Credit 1 General Journal Cash Discount on Bonds Payable Bonds Payable DO Debit 168. 447 11,553 180,000 2 December 31 13,4763 interest Expense Cash Discount on Bonds Payable OOO 141,100 924 to search