Gaudette Inc. issued 3-year, 12-per cent bonds on January 1, 2019, the date of bond authorization. Semi-annual interest is payable on June 30 and December 31. Gaudette uses the straight-line method of amortization. The following journal entry records the payment of interest on December 31, 2019: 2019 Dec. 31 Interest Expense 17,900 Premium on Bonds 100 Cash 18,000 Required: Reconstruct the entry made to record the issuance of bonds on January 1, 2019