Question: Quick! please help me fix what I got wrong with this question. thank you. Exercise 10-12 Your answer is partially correct. Try again. The following

Quick! please help me fix what I got wrong with this question. thank you.


Exercise 10-12 Your answer is partially correct. Try again. The following section is taken from Ohlman Corp.'s balance sheet at December 31, 2018. Current liabilities Interest payable $ 112,000 Longterm liabilities Bonds payable, 7%, due January 1, 2021 1,600,000 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 Ties and Explanation Debit Credit E D Jan. 1 Interest Expense 7840 (b) Assume that on January 1, 2019, after paying interest, Ohlman calls bonds having a face value of $600,000. The call price is 103. Record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date IAooount Tides and Explanation Debit Credit J... 1' mom -__ X V E': -ooool (C) Prepare the entry to record the accrual of interest on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Aooount Tides and Explanation Debit Credit " a V Dec. 31 Interest Expense 7840 - J E! V Interest Payable - 7840
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