On January 1, 2014, Buchheit Enterprises reported $95,000 in a liability called Bonds Payable, Net. This liability related to a $100,000 bond with a stated interest rate of 5 percent that was issued when the market interest rate was 6 percent. Assuming that interest is paid December 31 each year, prepare the journal entry to record interest paid on December 31, 2017, using the simplified effective-interest method shown in Supplement 10C.