Please help me understand how to the following journal entries

On January 1 of this year, Clearwater Corporation sold bonds with a face value of $754,000 and a coupon rate of7 percent. The bonds mature in 10 years and pay interest annually every December 31. CleanNater uses the straight-line amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factorts) 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 "Nojournal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits. January 01 ash : onds payable Bonds payable 754,000 Record entry Clear entry View general journal View transaction list View journal entry worksheet x No Date General Journal Debit Credit 1 December 31 Interest expense 52,780 Bonds payable 52,780 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