Problem 10-3A on May 1, 2019, Herron Corp. issued 5600,000, 99, 5-year bonds at face value. The bonds were cated May 1, 2019, and pay interest annually on May 1. Financial statements are prepared annually on December 31 Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Tries and Explanation Credit Debit 600000 May 1, 2019 Cash Bonds Payable 500000 LINK TO TEXT UN TOT Prepare the adjusting entry to record the cost of interest on December 31, 2019. (Cred account s are automatically indented is entered. Do not identmany Accounties and Explanation Debit Credit Dec 31, 2019 interest Expense 36000 interest Payable Show the balance sheet presentation on December 31, 2019. (Enter account name only and do not provide Herron Corp. Balance Sheet SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIN interest 1, 2020. (Credit account titles are automatically in Prepare the journal entry to record payment Date Account Titles and Explanation May 1, 2020 Debit Credit Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account Debit Credit Date Account Titles and Explanation Dec. 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Assume that on January 1, 2021, Herron pays the accrued bond interest and calls the bonds at 102. Re automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2021 (To record payment of interest) Jan. 1, 2021 (To record redemption of hands)