On January 1, 2021, Cullumber Ltd. issued $650,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Cullumber's year end is December 31. On January 1, 2023 immediately after making and recording the semi-annual interest payment, Cullumber 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 $622,277 July 1, 2021 16,250 $18,668 $2,418 624,695 Jan. 1, 2022 16,250 18,741 2,491 627,186 July 1, 2022 16,250 18,816 2,566 629,752 Jan. 1, 2023 16,250 18,893 2,643 632,395 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 O for the amounts.) Date Account Titles and Explanation July 1 (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 Dec. 31 (To accrue interest expense.) eTextbook and Media List of Accounts 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 Debit Credit Jan. 1 (To record interest payment.) eTextbook and Media List of Accounts 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 Debit Credit (To record redemption of bonds.) eTextbook and Media 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