P10-7 Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 The fowowing information applics to the quosbons displaynd balaw. Claire Corporation is planning to issue bonds with a face valuc of S300,000 and a coupon rate of 12 percent. The bonds mature in twa years and pay intercst quarterly every March 31, Jurne 30, Soptember 30, and December 31. All afthe bonds were sold on January of this year, Claire uses the efective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 15 percent. IEV ot S1, PV of $1 FVA of $1, and PVA of $D (Use the appropriate factor(s) from the tables provided.) References Section Break P10 7 Recording and Reporting a Bond issued at Discount with Discount Account) L010-4 value 0.25 points Required information P10-7 Part 1 Required: 1. Provide the journal entry to record the issuance of the bonds. (f no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) view transaction list Journal entry worksheet Record the issuance of the bonds on January 1. Note: Enter debits before credits. Date January Record entry View general journal Clear entry