Required information (The following information applies to the questions displayed below) Legacy issues $550,000 of 9,5%, four-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. They are issued at $507,301 when the market rate is 12% Required: 1. Prepare the January Journal entry to record the bonds' Issuance. Complete this question by entering your answers in the tabs below. Required: Required 2 Compute the debt-to-equity ratios for both companies. 1 Choose Denominator: Puask Company Scott Company Choose Numerator: Total liabilities $ 904.500 $ 598,500 Total equity $ 1,350,000 507301 Debt-to-Equity Ratio 0.67 $ 1.18