The following section is taken from Cullumbers balance sheet at December 31, 2021.

Current liabilities
Interest payable		$48,000
Long-term liabilities
Bonds payable (10%, due January 1, 2025)		480,000

Interest is payable annually on January 1. The bonds are callable on any annual interest date.

Thank you!

(a) Journalize the payment of the bond interest on January 1, 2022. (Credit account tities are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation Jan 1. 2022 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (b) Assume that on January 1, 2022, after paying interest. Cullumber calls bonds having a face value of $192,000. The call price is 103. Record the redemption of the bonds. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan 1. 2022 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (c) Prepare the adjusting entry on December 31, 2022, to accrue the interest on the remaining bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2022 eTextbook and Media List of Accounts 5ave for Later Attempts: 0 of 5 used Submit