Kershaw Electric sold $5,160,000,14%, 10-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and paid interest on January 1. The bonds were sold at97.

Prepare the journal entry to record the issuance of the bonds on January 1, 2017.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2017

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At December 31, 2017, $7,600 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2017.(Enter account name only and do not provide descriptive information.)

Kershaw Electric Balance Sheet (Partial) For the Month Ended December 31, 2017For the Year Ended December 31, 2017December 31, 2017
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders Equity
	$
AddLess:		$

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On January 1, 2019, when the carrying value of the bonds was $5,020,400, the company redeemed the bonds at101. Record the redemption of the bonds assuming that interest for the period has already been paid.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2019