Cullumber Company issued $312,000 of 9%, 10-year bonds on January 1, 2021, at face value. Interest is payable annually on January 1, 2022 Your Answer Correct Answer Your answer is correct Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Jan. 1 Cash Date 2021 312000 Bonds Payable 312000 (To record Issuance of bonds) Prepare the journal entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically Indented when the amount is entered. Do not indent marmally. If no entry is required, select "No Entry" for the account titles and entero for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31, 2021 Interest Expense 28,080 28.080 Interest Payable (To accrue interest expense.) 1.66/2 Question Part Score (C) Prepare the journal entry to record the payment of interest on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1. 2022 To record interest payment.)