On May 1, 2020, Ivanhoe Corp. Issued $620,000,6%, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Assume that on January 1, 2022, Ivanhoe pays the accrual bond interest and calls the bonds. The call price is 101. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,675.) Account Titles and Explanation Debit Credit Jan. 1. Interest Payable Date 2022 Cash Jan. 1. 2022 (To record payment of interest) Bonds Payable 620000 Loss on Bond Redemption 6200 626200 Cash (To record redemption of the bonds)