On January 1, 2021, Oriole Ltd. issued bonds with a maturity value of $6,900,000 when the market rate of interest was 4%. The bonds have a coupon (contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. The companys year end is December 31.

Your answer is partially correct. What amounts would be reported as current and non-current in the liabilities section of Oriole Ltd's December 31, 2021, balance sheet? (Round answers to decimal places, e.g. 5,275.) ORIOLE LTD. Balance Sheet (Partial) December 31, 2021 Non-Current Liabilities $ 6.900.000 Bonds Payable Current Liabilities Interest Expense 6.900.000 eTextbook and Media List of Accounts X Your answer is incorrect. 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 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record interest payment.) Your answer is partially correct. Assume instead that the bonds were not redeemed on January 1, 2023. Record the entry for the repayment of the bonds on January 1, 2031. (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 for the amounts.) Credit Date Account Titles and Explanation Jan. 1 Bonds Payable Debit 6900000 Cash 6900000 (To record maturity of bond.)