Required information [The following information applies to the questions displayed below.] Legacy issues $620,000 of 9.5%, four-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31. They are issued at $571,867 when the market rate is 12%. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $620,000 on January 1,2021 at an issue price of $571,867. Note: Enter debits before credits