Current Attempt in Progress On January 1, 2021, Pharoah Ltd. issued $570,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6% Pharoah's year end is December 31. On January 1, 2023 immediately after making and recording the semi-annual interest payment. Pharoah redeemed the bonds. A partial bond amortization schedule is presented below. Semi-Annual Interest Interest Period Payment Interest Expense Amortization Bond Amortized Cost Jan. 1, 2021 $545,689 July 1, 2021 14,250 $16,371 $2,121 547,810 Jan. 1, 2022 14,250 16,434 2.184 549,994 July 1, 2022 14,250 16,500 2.250 552.244 Jan. 1,2023 14.250 16,567 2,317 554,561 Prepare the journal entry to record the payment of interest on July 1, 2021. (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 0 for the amounts.) Date Account Titles and Explanation July 1 Debit Credit Prepare the journal entry to record the payment of interest on July 1, 2021. (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 0 for the amounts.) Date Account Titles and Explanation July 11 (To record interest payment.) eTextbook and Media List of Accounts Debit Credit Prepare the journal entry to accrue the interest expense on December 31, 2021. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit MacBook Air Prepare the journal entry to accrue the interest expense on December 31, 2021. (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 O for the amounts.) Date Account Titles and Explanation Dec. 31 (To accrue interest expense.) eTextbook and Media 190 43 02 MacBook Air Debit Credit DII DD 9 FO 47 FW 210 *w 812 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 O for the amounts.) Date Account Titles and Explanation Jan. 1 (To record interest payment.] eTextbook and Media List of Accounts 80 2 A 24 -2 PR Debit MacBook Air Credit 100 Dell DO ST T ww #! O 13 Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100 on January 1, 2023. (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 0 for the amounts.) Date Account Titles and Explanation Jan. 1 (To record redemption of bonds.) eTextbook and Media List of Accounts MacBook Air Debit 8= Credit Dill DB " ww 110 List of Accounts Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 95. (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 0 for the amounts.) Date Account Titles and Explanation Jan. 1 Debit Credit (To record redemption of bonds.) eTextbook and Media List of Accounts MacBook Air