Exercise 14-15 Error correction; accrued interest on bonds [LO14-2] At the end of 2017, Majors Furniture Company failed to accrue $62,000 of interest expense that accrued during the last five months of 2017 on bonds payable. The bonds mature in 2031. The discount on the bonds is amortized by the straight-line method. The following entry was recorded on February 1, 2018, when the semiannual interest was paid Interest expense Discount on bonds payable 74,400 1,320 73,080 Cash Required: Prepare any journal entry necessary to correct the errors as of February 2, 2018, when the errors were discovered. Also, prepare any adjusting entry at December 31, 2018, related to the situation described. (Ignore income taxes) (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first occount field.) Answer is not complete. No Date General Journal Debit Credit 62.000 February 02, 2018 Interest expense 1 Discount on bonds payable 1,100 60,900 Interest payable 12.400 December 31, 201 Interest expense 2 60.900 Interest payable 220 73,080 Discount on bonds payable Cash Next > 9 of 11