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 $260,000, 7 percent bond issue for $226,626. 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.) View transaction list Journal entry worksheet Record the issuance of bonds for $226,626 with a face value of $260,000. Note: Enter debits before credits Date General Journal Debit Credit January 01 Record entry Clear entry View general journal