On January 1, 2015, Buchheit Enterprises reported $163,200 in a liability called Bonds Payable, Net. This liability related to a $170,000 bond with a stated interest rate of 4 percent that was issued when the market interest rate was 5 percent. Assuming that interest is paid December 31 each year, prepare the journal entry to record interest paid on December 31, 2015, using the simplified effective-interest method.