On January 1, 2021, Buchheit Enterprises reported $95,000 in a liability called "Bonds Payable, Net." This liability related to a $100,000 bond with a stated interest rate of 5 percent that was issued when the market interest rate was 6 percent. Assuming that interest is paid December 31 each year, prepare the journal entry to record interest paid on December 31, 2021, using the simplified effective- interest method. (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 1 Record the interest payment on December 31, 2021. Note: Enter debits before credits. Date December 31, 2021 Record entry General Journal Clear entry Debit Credit View general journal

On January 1, 2021, Buchheit Enterprises reported $95,000 in a liability called "Bonds Payable. Net' This llabiity related to a $100,000 bond with a stated interest rate of 5 percent that was issued when the market interest rate was 6 percent. Assuming that interest is paid December 31 each year. prepare the Journal entry to recard interest paid on December 31,2021 , using the simplified effective. interest method. (If no entry is required for o transoction/event, select "No journol entry required" in the first occount field.) Journal entry worksheet Record the interent payment on December 31,2021. Note: Lnter debits before creditn