Required information [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. Journal entry worksheet Record the issuance of the bonds on January 1. Note: Enter debits before credits. Journal entry worksheet Record the interest payment on March 31. Note: Enter debits before credits. \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ CLAIRE CORPORATION } \\ Balance Sheet (Partial) \\ \hline \multicolumn{3}{|c|}{ At December 31 } \\ \hline Long-term liabilities & & \\ \hline & & \\ \hline \end{tabular}