Simko Company issued $790,000, 8-year, 4 percent bonds on January 1, 2018. The bonds were issued for $730,000. Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2018, and (b) the payment of interest on December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1. Record the issuance of bonds with a face value of $790,000 for $730,000.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
January 01, 2018

2. Record the interest payment on December 31, 2018.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31, 2018