On January 1, 2018, Irik Corporation issued $1,900,000 face value, 7%, 10-year bonds at $1,772,508. This price resulted in an effective-interest rate of 8% on the bonds. The bonds pay annual interest, each January 1. Prepare the journal entry to record the issue of the bonds on January 1, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Jan. 1, 2018