Clem Company issued $800,000, 10 year, 5 percent bonds on January 1, 2021. The bonds sold for $741.000. Interest is payable annually on December 31. Using effective interest amortization, prepare journal entries to record (a) the bond issuance on January 1 2021, and (b) the payment of Interest on December 31, 2021. The market interest rate on the bonds is 6 percent. (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