Simko Company issued $740,000, 5-year, 5 percent bonds on January 1, 2021. The bonds were issued for $705,000. Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2021, and (b) the payment of interest on December 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Date General Journal No 1 January 01, 2021 Cash Discount on Bonds Payable Bonds Payable Debit Credit 740,000