On Mary 1, 2022, Pharoah Corp, issued $650,000,6%,5-year bonds at face value, The bonds were dated May 1,2022 and pay interest amually on May 1 . Financial statements are prepared annually on Decernber 31 . Prepare the joumal entry to record the issuance of the bonds. (Credit account titles are automoticaily indented when amount is entered. Do not indent manually.) eTextbook and Media Ust of Accounts Prepare the adiusting entry to record the accrual of interest on December 31, 2022. (Credit occount titles are automaticaliy indented when amount is entered. Do not indent manually.) Show the balance sheet presentation on December 31. 2022. (Enter account name only and do not provide descriptive information.) Pharoah Corp. Balance Sheet (Partial) December 31,2022 Current Labilities Interest Payable \( \$ \longdiv { 2 0 0 0 0 } \) Long-term investments Eignds Parable 5 eTextbook and Medis List of Accounts * Your answer is incorrect Prepare the journal entry to record payment of interest on May 1, 2023. (Credit account tities are automatically indented when amount is eatered. Do not indent manually.) Date Account Tities and Explanation Debit Credit May 2023 Prepare the adjusting entry to record the accrual of interest on December 31, 2023. (Credit occount titles ere automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit : Credit Dec. 31. 2023 Aswume that on January 1, 2024, Pharoah pars the accrual bond interest and cals the bonds. The call price is 101. Record the pavment of interest and redemption of the bond. (Credit account tities are automatically indented when amount is entered. Do not indent manualy.)