Clem Company issued $920,000, 10-year, 6 percent bonds on January 1, 2018. The bonds sold for $850,000. Interest is payable annually on December 31. Using effective-interest amortization, prepare journal entries to record (a) the bond issuance on January 1 2018, and (b) the payment of interest on December 31, 2018. The market interest rate on the bonds is 7 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 Record the interest payment on December 31, 2018. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2018 nterest Expense