Required information The following information applies to the questions displayed below) On January 1, when the market interest rate was 8 percent, Seton Corporation completed a $160,000, 6 percent bond issue for $138,529. The bonds pay interest each December 31 and mature in 10 years Seton amortizes the bond discount using the straight line method 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.) Journal entry worksheet Record the issuance of bonds for $138,529 with a face value of $160,000. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Journal entry worksheet