Required information [The following information applies to the questions displayed below.] Part 1 of 2 On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $180,000, 8 percent bond issue for $168,447. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. 2.08/2.5 points awarded Required: Scored 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.) Credit No 1 Date January 01 General Journal Cash Discount on Bonds Payable Bonds Payable Debit 168,447 11,553 180,000 December 31 15,160 X Interest Expense Discount on Bonds Payable Cash - 760 % 14,400