Problem 10-4A (Part Level Submission) On October 1, 2016, Culver Corp. issued $936,000, 8%, 10-year bonds at face value. The bonds were dated October 1, 2016, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Your answer is correct. 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 Titles and Explanation Oct. 1, 2016 Cash Debit Credit 936,000 || 936,000 Bonds Payable Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 1 used (b) Your answer is correct. Prepare the adjusting entry to record the accrual of interest on December 31, 2016. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Date Account Titles and Explanation Dec. 31, 2016 Interest Expense Debit 18,720 Interest Payable 18,720 Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 1 used Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2016. CULVER CORP. Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work