Exercise 20-22 (Algo) Error correction; accrued interest on bonds [LO20-6) At the end of 2020, Majors Furniture Company failed to accrue $69.500 of interest expense that accrued during the last five months of 2020 on bonds payable. The bonds mature in 2032. The discount on the bonds is amortized by the straight-line method. The following entry was recorded on February 1, 2021, when the semiannual interest was paid 33.400 Interest expense Discount on bonds payable Cash 2,900 80,500 Required: 1-0. Prepare any journal entries necessary to correct the error as well as any adjusting entry for 2021 related to the situation described ignore income taxes) 1-b. Prepare the joumal entries that should have been recorded, if done correctly to start Complete this question by entering your answers in the tabs below. RO1A Red 1 Prepare any Journal entries necessary to correct the error, as well as any adjusting entry for 2021 related to the situation described. tgnore income taxes) Do not round Intermediate calculations and round your finala Viewson Journal entry worksheet 1 2 Record the entry to correct the error. Note: Enter debits before credits, General Journal Debit Event 1 Credit Record entry Clear entry View onerator VOWS LIST Journal entry worksheet 1 Record the adjusting entry for interest on Dec. 31, 2021. Note: Enter debits before credits Event General Journal Debit Credit 2 Record entry Clear entry View general journal Prey at Next > View transaction list Journal entry worksheet View transaction list Journal entry worksheet 1 Record the interest payment on February 1, 2021 as it should have been recorded. Note: Enter debits before credits. Event General Journal Debit Credit 2 man Prev Next