On January 1 of this year, Clearwater Corporation sold bonds with a face value of $765,000 and a coupon rate of 8 percent. The bonds mature in 10 years and pay interest annually every December 31. Clearwater uses the straight-line amortization method and also uses a discount account. Assume an annual market rate of interest of 9 percent. (EV of $1. PV of $1. EVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (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 issuance of the bonds. < 1 Record the issuance of the bonds. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the interest payment on December 31, using straight-line amortization. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry 3. How will the bonds be reported on Clearwater's December 31 Balance Sheet? CLEARWATER CORPORATION Balance Sheet (Partial) At December 31 Long-term liabilities 69 0