Claire Corporation is planning to issue bonds with a face valueof $100,000 and a coupon rate of 8 pe

Claire Corporation is planning to issue bonds with a face valueof $100,000 and a coupon rate of 8 percent. The bonds mature in twoyears and pay interest quarterly every March 31, June 30, September30, and December 31. All of the bonds were sold on January 1 ofthis year. Claire uses the effective-interest amortization methodand also uses a discount account. Assume an annual market rate ofinterest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of$1) (Use the appropriate factor(s) from the tablesprovided.) 1. Provide the journal entry to record theissuance of the bonds. (If no entry isrequired for a transaction/event, select “No journal entryrequired” in the first account field. Round yourfinal answers to nearest whole dollar amount.) 2. Provide the journal entry to record the interest payment onMarch 31, June 30, September 30, and December 31 of this year. 3. What bonds payable amount will Claire reporton this year’s December 31 balance sheet? (Round your finalanswers to nearest whole dollar amount.) Bonds Payable: . . .