Kelso Company issued $600,000, 6%, 10-year bonds on January 1, 2021, for $651,518. Interest is payable annually on January 1. Kelso uses the effective-interest method of amortization and has a calendar year-end. The bonds were issued when the effective interest rate (market) was 5%. (a) Record the journal entry for issuance of the bonds on January 1, 2021. (b) Record the journal entry related to interest expense on December 31, 2021. (c) Record the journal entry for payment of the interest on January 1, 2022. (d) Determine carrying value of the bonds on January 1, 2022