Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the questions displayed below] Claire Corporation is planning to issue bonds with a face value of $160,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 12 percent. (FV of \$1, PV of \$1. FVA of \$1, and PVA of \$1) Note: Use appropriate factor(s) from the tables provided. P10-7 Part 1 Required: 1. Provide the journal entry to record the issuance of the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your fina answers to nearest whole dollar amount. Journal entry worksheet Record the issuance of the bonds on January 1. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the interest payment on September 30. Note: Enter debits before credits. Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. Present Value of Annulty of 51 Present Value of Annulty of $1 Preseat Value of Annuity of $1