0, 6th Ed) Saved Simko Company issued $720000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for $640,000 Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record () the bond issuance on January 1, 2018, and (th the payment of interest on December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) iew transaction list Journal entry worksheet Record the issuance of bonds with a face value of $720,000 for $640,000. January 01, 2018 Cash on Bonds Payable Bends Payable 20 900 Clear ensy Simko Company issued $720,000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for $640,000. Interest is payable annualy on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2018, and (th the payment of interest on December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the interest payment on December 31, 2018. Note. Entes delbits belore credta December 31, 2018 Interesi Payable Clear entry