The following is taken from Walmart balance sheet:
		Walmart
		Partial Balance Sheet
		31-Dec-20
Current Liabilities
Interest payable					300,000
Long Term Liabilities
Bonds payable 10%, due Jan 1, 2026			3,000,000		?
Add: Premium on Bond Payable			120,000		3,120,000
Interest is payable annually on January 1st. The bonds are callable on any annual interest date.
Walmart uses straight line amortization for any bond discount or premium. From December 31, 2020
the bonds will be outstanding for another 5 years, (60 months)
A) Journalize the payment of the bond interest on January 1, 2021
B) Prepare the entry to amortize the bond discount and to accrue the interest due on December 31, 2021
C) Assume that on January 1, 2022, after paying interest, Walmart calls bonds having a face value of $2,000,000
The call price is 103. Record the redemption of the bonds
D) Prepare the journal entry at December 31, 2022, to amortize the bond discount and to accrue interest
on the remaining bonds