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The following section is taken from Pharoah's balance sheet at December 31, 2024. Interest is payable annually on January 1 . The bonds are callable

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The following section is taken from Pharoah's balance sheet at December 31, 2024. Interest is payable annually on January 1 . The bonds are callable on any annual interest date. (a) Journalize the payment of the bond interest on January 1, 2025. (b) Assume that on January 1, 2025, after paying interest, Pharoah calls bonds having a face value of $180,000. The call price is 105 . Recor (c) Prepare the adjusting entry on December 31, 2025, to accrue the interest on the remaining bonds

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