On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $180,000, 8 percent bond Issue for $168,447. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective-interest method to amortize the bond discount. Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first Interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field. Round your answers to the nearest whole dollar.)