S 10-7 (Algo) Journalizing discount bond issuance LO P2 nviro Company issues 8%,10-year bonds with a par value of $320,000 and semiannual interest payments. On the issue date, the innual market rate for these bonds is 10%, which implies a selling price of 871/2. repare the journal entry for the issuance of the bonds for cash on January 1. Journal entry worksheet Record the issue of bonds with a par value of $320,000. Note: Inter debits before credits. QS 10-8 (Algo) Journalizing premium bond issuance LO P3 Garcia Company issues 9.0%,15-year bonds with a par value of $400,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 7.0%, which implies a selling price of 1153/4. Prepare the journal entry for the issuance of these bonds for cash on January 1. Journal entry worksheet Record the issue of bonds with a par value of $400,000 at a selling price of 1153/4. Note: Enter debits before credits