Brief Exercise 14-13 Sheffield Umited issued $405,000 of 8% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 103. Sheffield Limited follows ASPE and records the amortization using the straight-line method. Your answer is correct. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1, 2020 Cash 417150 Bonds Payable 417150 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Your answer is partially correct. Try again. Prepare the journal entry related to the bonds for July 1. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entr is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation 6:02 PM 2030-10-10 July 1.2020 TL A ENG PRINTER VERSION Your answer is partially correct. Try again. Prepare the journal entry related to the bonds for July 1. (Credit account titles are automatically indented when the amount is entered. Do not indent mars is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit July 1, 2020 Interest Expense 16686 Bonds Payable 16686 Your answer is partially correct. Try again. Prepare the journal entry related to the bonds for December 31. (Credit account titles are automatically indented when the amount is entered. Do not indu no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Credit Debit Dec 31, 2020 Interest Expense 16686 Bonds Payable 16686 Interest Payable