Required information

$[$The following information applies to the questions displayed below.$]$

Claire Corporation is planning to issue bonds with a face value of $$140,000$ and a coupon rate of $12$ 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 $16$ percent.$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

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 final

answers to nearest whole dollar amount.