(c) Your answer is correct. Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2016. CULVER CORP. Balance Sheet (Partial) December 31, 2016 Current Liabilities Interest Payable 18,720 Long-term Liabilities Bonds Payable 1936,000 Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 1 used (d) Your answer is correct. Prepare the journal entry to record the payment of interest on October 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Date Account Titles and Explanation Oct. 1, 2017 Interest Expense Debit 56,160 Interest Payable Cash 74,880 Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 1 used Prepare the adjusting entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 1 used