Use the following information for the Quick Study below.

[The following information applies to the questions displayed below.]

Enviro Company issues 10%, 10-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 12%, which implies a selling price of 88 1/2.

Prepare the journal entry for the issuance of the bonds. Assume the bonds are issued for cash on January 1, 2017.

Required information Use the following information for the Quick Study below The foWoweling infanmanon applies to the queshions dspaynd below dme, th annual market rate for these bonds ls 2%, which inclles seling price at V2 QS 14-2 Journalizing bond issuonco LO P1 Joua ntry tor the ry 21 iew transaction Ist Journal entry worksheet 01, 2017