Current Attempt in Progress On September 1. Sheffield Ltd. purchased $80,400 of five-year, 8% bonds for $65,951, resulting in an effective (yield) rate of 13%. The bonds pay interest each March 1 and September 1. Sheffield Ltd. applies ASPE, accounts for the investment under the amortized cost approach using the effective interest accounting policy, and has a December 31 year end. The following March 1, after receiving the semi-annual interest on the bonds, Sheffield sells the bonds for $68,561. (a) Prepare Sheffield's journal entry for the purchase of the investment. (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.) Date Account Titles and Explanation Debit Credit September 1