14 of 17 -16 The following information is taken from Sunland Corp.'s balance sheet at December 31, 2021. Current liabilities Interest payable $98,000 Long-term liabilities Bonds payable (4%, due January 1, 2032) $2,450,000 Less: Discount on bonds payable 24,500 2,425,500 Interest is payable annually on January 1 . The bonds are callable on any annual interest date. Sunland uses straight-line amortization for any bond premium or discount. From December 31, 2021, the bonds will be outstanding for an additional 10 years (120 months). (a) Journalize the payment of bond interest on January 1, 2022. (b) Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2022. (c) Assume on January 1,2023, after paying interest