Question 6 of 6 11 E View Policies Current Attempt in Progress The following information is taken from Blue Corp's balance sheet at December 31, 2016 Current liabilities Interest payable $86,500 Long-term liabilities Bonds payable 16% due January 1, 2027) $2.760,000 Less: Discount on bonds payable 27.600 2.732.400 Interest is payable annualy on January 1. The bonds are calable on any annual interest date, Blue uses straight-line amortization for any bond premium or discountFrom December 31, 2016, the bonds will be outstanding for an additional 10 years (120 months) Journalize the payment of bond interest on January 1, 2017 b) Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2017 Assume on January 1, 2018, after paying interest, that Blue Coro calls bonds having a face value of $460,000. The call price is 102. Record the redemption of the bonds. Prepare the adjusting entry at December 31, 2016, to amortize bond discount and to accrue interest on the remaining bonds Id) Credit account titles are automatically indented when amount is entered. Do not Indent manually) No. Date Account Titles and Explanation Debit Credit Jan 1 2017 Question 6 of 6 -71 No. Account Titles and Explanation Debit Credit Date Jan. 1 2017 (6) Dec. 31 2017 Jan. 1 2018 Id Dec 31 2018 e Textbook and Media List of Accounts