Simko Company issued $750,000, 8-year, 6 percent bonds on January 1, 2021. The bonds were issued for $710,000. 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.) Record the issuance of bonds with a face value of $750,000 for $710,000. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021