[The following information applies to the questions displayed below.] Ike issues $160,000 of 13%, three-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and December 31 . They are issued at $163,940 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 $160,000 on January 1,2021 at an issue price of $163,940. Note: Enter debits before credits