At the end of 2020, Majors Furniture Company failed to accrue $70,000 of interest expense that accrued during the last five months of 2020 on bonds payable. The bonds mature in 2034. The discount on the bonds is amortized by the straight-line method. The following entry was recorded on February 1, 2021, when the semiannual interest was paid: Interest expense Discount on bonds payable Cash 84,000 1,800 82,200 Required: Prepare any journal entry necessary to correct the errors as of February 2, 2021, when the errors were discovered. Also, prepare any adjusting entry at December 31, 2021, related to the situation described. (Ignore income taxes.) (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)