S 10-8 (Algo) Journalizing premium bond issuance LO P3 Garcia Company issues 11.5%, 15-year bonds with a par value of $450,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.5%, which implies a selling price of 113 3/4. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $450,000 at a selling price of 113 3/4. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal