Assignment CALCULATOR FULL SO Exercise 15-02 a-c On January 1, 2020, Sheridan Company issued $540,000, 11%, 10-year bonds at face value. Interest is payable annually on January 1. 3a- Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 540,000 Bonds Payable 540,000 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Your answer is correct. Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatica Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Interest Expense 59,400 Interest Payable 59,400 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is correct. Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are auto Date Account Titles and Explanation Debit Credit Jan. 1, 2021 Interest Payable 59,400 Cash 59,400 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Assignment CALCULATOR FULL SO Exercise 15-02 a-c On January 1, 2020, Sheridan Company issued $540,000, 11%, 10-year bonds at face value. Interest is payable annually on January 1. 3a- Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 540,000 Bonds Payable 540,000 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Your answer is correct. Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatica Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Interest Expense 59,400 Interest Payable 59,400 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is correct. Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are auto Date Account Titles and Explanation Debit Credit Jan. 1, 2021 Interest Payable 59,400 Cash 59,400 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT