Required information [The following information applies to the questions displayed below] On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $300,000, 9 percent bond issue for $281,554. 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.) View transaction list Journal entry worksheet 1 Record the issuance of bonds for $281,554 with a face value of $300,000. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Required information [The following information applies to the questions displayed below.] On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $300,000, 9 percent bond issue for $281,554. 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.) View transaction list Journal entry worksheet 1 2 41 Record the interest payment on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit