The following section is taken from Blossom's balance sheet at December 31, 2020.

Current liabilities
Interest payable $60,000
Long-term liabilities
Bonds payable (8%, due January 1, 2024) $750,000

Interest is payable annually on January 1. The bonds are callable on an annual interest date.

a. Journalize the payment of the bond interest on January 1, 2021.