On May 1, 2022, Ivanhoe Corp. issued $620,000, 6%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Assume that on January 1, 2024, 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.) Date Account Titles and Explanation Debit Credit Jan. 1, 2024 (To record payment of interest) Jan. 1, 2024 (To record redemption of the bonds)