The following is taken from the Skysong, Inc. balance sheet.

Interest is payable annually on January 1. The bonds are callable on any annual interest date. Skysong uses straight-line amortization for any bond premium or discount. From December 31, 2019, the bonds will be outstanding for an additional 10 years (120 months).

can you help me answer the last part of the question?

The following is taken from the Skysong, Inc. balance sheet. Skysong, Inc. Balance Sheet (partial) December 31, 2019 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 7% due January 1, 2030 Add: Premium on bonds payable $217,000 $3,100,000 180,000 $3,280,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Skysong uses straight-line amortization for any bond premium or discount. From December 31, 2019, the bonds will be outstanding for an additional 10 years (120 months). Your answer is correct. Journalize the payment of bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2020 Interest Payable 217000 Cash 217000 Your answer is correct. Assume that on January 1, 2021, after paying interest, Skysong, Inc. calls bonds having a face value of $1,240,000. The call price is 101. Record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Date Account Titles and Explanation Jan. 1, 2021 Bonds Payable Debit 1240000 Premium on Bonds Payable 64800 Gain on Bond Redemption 52400 Cash 1252400