The following information is taken from Pharoah Corp.'s balance sheet at December 31, 2021. Interest is payable annually on January 1 . The bonds are callable on any annual interest date. Pharoah uses straight-line amortization for any bond premium or discount. From December 31, 2021, the bonds will be outstanding for an additional 10 years ( 120 months). (a) Journalize the payment of bond interest on January 1,2022. (b) Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2022. (c) Assume on January 1, 2023, after paying interest, that Pharoah Corp. calls bonds having a face value of $486,000. The call price is 102 . Record the redemption of the bonds. (d) Prepare the adjusting entry at December 31, 2023, to amortize bond discount and to accrue interest on the remaining bonds. Account Titles and Explanation Debit Credit Interest Payable 97200 Interest Expense 99630 Discount on Bonds Payable 2430 Interest Payable Bonds Payable 486,000 Loss on Bond Redemption 13932 Discount on Bonds Payable 4212 Cash 495720 Interest Expense 582732 Discount on Bonds Payable 485532 Interest Payable 97200 The following information is taken from Pharoah Corp.'s balance sheet at December 31, 2021. Interest is payable annually on January 1 . The bonds are callable on any annual interest date. Pharoah uses straight-line amortization for any bond premium or discount. From December 31, 2021, the bonds will be outstanding for an additional 10 years ( 120 months). (a) Journalize the payment of bond interest on January 1,2022. (b) Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2022. (c) Assume on January 1, 2023, after paying interest, that Pharoah Corp. calls bonds having a face value of $486,000. The call price is 102 . Record the redemption of the bonds. (d) Prepare the adjusting entry at December 31, 2023, to amortize bond discount and to accrue interest on the remaining bonds. Account Titles and Explanation Debit Credit Interest Payable 97200 Interest Expense 99630 Discount on Bonds Payable 2430 Interest Payable Bonds Payable 486,000 Loss on Bond Redemption 13932 Discount on Bonds Payable 4212 Cash 495720 Interest Expense 582732 Discount on Bonds Payable 485532 Interest Payable 97200