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 $190,000, 7 percent bond issue for $177,252. 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 not complete. General Journal No Credit 1 January 01 Debit 177,252 Discount on Bonds Payable Bonds Payable 15,200 2 December 31 Accounts Payable