Prepare entries to recorad issuance of bonds, interest accrual, and bond redemption. P10-3A On May 1, 2017, Herron Corp. issued $600,000, 996, 5-year bonds at face value. The bonds were dated May 1, 2017, and pay interest annually on May 1. Financial state- ments are prepared annually on December 31 Instructions (a) Prepare the journal entry to record the issuance of the bonds. (b) Prepare the adjusting entry to record the accrual of interest on December 31, 2017. (c) Show the balance sheet presentation on December 31, 2017 (d) Prepare the journal entry to record payment of interest on May 1, 2018. (e) Prepare the adjusting entry to record the accrual of interest on December 31,2018 (D) Assume that on January 1, 2019, Herron pays the accrued bond interest and calls the (LO 3, 5) (d) Int.exp.$18,000 (f) Loss $12,000 bonds at 102. Record the payment of interest and redemption of the bonds. P10-4A Kershaw Electric sold $6,000,000, 10%, 15-year bonds on January 1, 2017 . Th re soled Prepare entries to record bonds, interestbonds were dated January 1, 2017, and paid interest on January 1. The bonds we accrual, and bond redemption. at 98 (LO 3, 5) 488