15 of 22 View Policies Show Attempt History 0 Current Attempt in Progress Blossom Company issued $510,000 of 5-year, 9% bonds at 96 on January 1, 2022. The bonds pay interest annually (a2) Compute the total cost of borrowing for these bonds. Total cost of borrowing $ Question 16 of 22 View Policies Show Attempt History Current Attempt in Progress The following section is taken from Sunland Corp's balance sheet at December 31, 2021. Current liabilities Interest payable $ 75,000 Long-term liabilities! Bonds payable, 5%, due January 1, 2026 1.500.000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Question 16 of 22 (b) < 0.33/1 III E Assume that on January 1, 2022, after paying interest, Sunland calls bonds having a face value of $627,500. The call price is 105. Record the redemption of the bonds. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. Date Account Titles and Explanation Debit Credit Jan. 1