Clem Company issued $810,000,10-year, 4 percent bonds on January 1, 2021. The bonds sold for $747,454. 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 5 percent. (If no entry ls equired for o tronsoction/event, select "No Journal Entry Required" In the flrst account fleld.) Journal entry worksheet Record the issuance of bonds with a face value of $810,000 for $747,454. Note: Enter debits before credits. Clem Company issued $810,000,10-year, 4 percent bonds on January 1,2021 . The bonds sold for $747,454. Interest is payable Innually 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 5 percent. (If no entry Is equired for trensection/event, select "No Journal Entry Requlred" In the flrst account fleld.) Journal entry worksheet 1 Record the interest payment on December 31, 2021. Note: Enter debits before credits