Sarcia Company issues 8.5%,15-year bonds with a par value of $300,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.5%, which implies a selling price of 1141/2. 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 $300,000 at a selling price of 1141/2. Note: Enter debits before credits