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View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The following section is taken from Bramble Corp's balance sheet at December 31, 2019 Current liabilities Interest payable $ 89,500 Long-term liabilities Bonds payable, 5%, due January 1, 2022 1,790,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. (a) Journalize the payment of the bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash (b) Assume that on January 1, 2020, after paying interest, Bramble calls bonds having a face value of $602,000. The call price is 105. Record the 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 Bonds Payable Loss on Bond Redemption Cash (c Prepare the entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 eTextbook and Media List of Accounts Save for Later Attempts: 1 of 15 used Submit