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Current Attempt in Progress Sunland Limited issued $1,500,000 of 10 year, 5% bonds on January 1, 2021 when the market interest rate was 6%. Sunland received $1,388.425 when selling the bonds. Interest is payable semi-annually on July 1 and January 1. Sunland has a December 31 year end (a) Your answer is correct Record the issue of the bonds on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List ali debit entries before credit entries) Debit Credit Date Account Titles and Explanation Jan. 1 Cash 1388425 Bonds Payable 1388425 e Textbook and Media (b) Your answer is correct. Record the payment of interest on July 1, 2021. (Round answers to decimal places, e.g. 5,275. Credit account tities are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit July 1 Interest Expense 41653 Bonds Payable 4153 Cash 37500 eTextbook and Media List of Accounts Attempts: 1 of 3 u Your answer is correct. Record the accrual of interest on December 31, 2021. (Round answers to decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 41777 Bonds Payable 4277 Interest Payable 37500 e Textbook and Media List of Accounts Attempts: 1 of 3 used Your answer is partially correct. Record the payment of interest on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Jan 1 e Textbook and Media List of Accounts

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