On January 1 of this year, Clearwater Corporation sold bonds with a face value of $758,000 and a coupon rate of 6 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 7 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)

Part of my answer may all ready be wrong...

Journal entry worksheet Record the interest payment on December 31, using straight-line amortization. Note: Enter debits before credits. Date General Journal Debit Credit December 31 nterest expense Discount on bonds payable Cash Record entry Clear entry View general journal