On August 1, 2022. Monty Corp issued $490,800, 8%, 10-year bonds at face value. Interest is payable annually on August 1. Monty's year-end is December 31. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Aug 1 Cash 490,800 Bonds Payable 490,800 e Textbook and Media List of Accounts Attemnts: 1 of 3 used (b) Your answer is correct Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation Dec. 31 Interest Expense 16,360 Interest Payable 16,360 e Textbook and Media List of Accounts (c) Prepare the journal entry to record the payment of interest on August 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Aug 1 Interest Payable 16,360 Interest Expense Cash eTextbook and Media List of Accounts Save for Later Last saved 14 minutes ago. Attempts: 0 of 3 used Submit