On August 1, 2017, Sheffield Corp. issued $498,000, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Sheffield's year-end is December 31. Prepare a tabular summary to record the following events. (a) (b) (c) The issuance of the bonds. The accrual of interest on December 31, 2017. The payment of interest on August 1, 2018. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity Retained Earnings Revenue - Expense - Dividend Cash = Bonds Pay. + Interest Pay. + Common Stock + (a) Aug.1, 2017 498,000 (b) Dec. 31, 2017 Interest expense (c) Aug. 1, 2018 Interest expense