The following section is taken from Ohlman Ltd.'s. statement of financial position at December 31, 2018. Non‐current liabilities     Bonds payable, 7%, due January 1, 2024 $16,000,000 Current liabilities     Interest payable 1,120,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Prepare the entry to record the accrual of interest on December 31, 2019.

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