Sarcia Company issues 10.0%,15-year bonds with a par value of $420,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.0%, which implies a selling price of 115 . 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 $420,000 at a selling price of 115 . Note: Enter debits before credits