Knowledge Check o1 On January 1, Year 1, St Clar Corporation issues 7%, 11-year bonds with a face amount of $90,000 for $83,497. The market interest rate is 8\% interest is paid semiannually on June 30 and December 31 . Complete the necessary journal entry for the first semrannual interest payment by selecting the account names from the drop-down menus and entering the assoclated dollar amounts. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the flrst account field.) Journal entry worksheet Record the first semiannual interest payment for 7\%, 11-year bonds with a face value of $90,000