The following section is taken from Swifty Corporation's balance sheet at December 31, 2018. $ 136,400 Current liabilities Interest payable Long-term liabilities Bonds payable, 8%, due January 1, 2021 1,705,000 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, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Interest Payable 136,400 Cash 136,400 (b) Assume that on January 1, 2019, after paying interest, Swifty calls bonds having a face value of $549,500. The call price is 104. 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 Loss on Bond Redemption 549,500 Bonds Payable 21,980 Cash 571,480