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 $270,000, 9 percent bond issue for $253,399. 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.) Journal entry worksheet 2 Record the issuance of bonds for $253,399 with a face value of $270,000. Note: Enter debits before credits. General Journal Dobit Credit Date January 01 Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31