Cullumber Company issued $315,000 of 10%, 10-year bonds on January 1, 2022, at face value. Interest is payable annually on January 1, 2023.

- Prepare the journal entry to record the accrual of interest on December 31, 2022

- Prepare the journal entry to record the payment of interest on January 1, 2023.

- Prepare the journal entry to record the redemption of bonds at maturity, assuming interest for the last interest period has been paid and recorded