At December 31, 2022. $ 11,040 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2022. (Enter account name only and do not provide descriptive information.) Sheridan Electric Balance Sheet (Partial) December 31, 2022 Current Assets $ + $ e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer Save for later Last saved 12 minutes ago. Sheridan Electric sold $ 5,520,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and paid interest annually on January 1. The bonds were sold at 98. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 5409600 Jan. 1. 2022 Cash 110400 Db.count on Bonds Payable 5520000 Bonds Payable