The following section is taken from Sunland Company's balance sheet at December $31,2021.$

Current liabilities

Interest payable

$$141,750$

Long$-$term liabilities

Bonds payable, $9\%,$ due January $1,20241,575,000$

Bond interest is payable annually on January $1.$ The bonds are callable on any interest date.

$($a$)$

Journalize the payment of the bond interest on January $1,2022.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

Interest Expense

$($b$)$

Assume that on January $1,2022,$ after paying interest, Sunland calls bonds having a face value of $$681,000.$ 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.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

Interest Expense

$($c$)$

Prepare the entry to record the accrual of interest on December $31,2022.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$