On August 1, 2022, Sheffield Corp. issued $498,000, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Sheffields year-end is December 31.

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

Date	Account Titles and Explanation	Debit	Credit
Aug. 1	enter an account title to record the issuance of the bonds on August 1enter an account title to record the issuance of the bonds on August 1	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the issuance of the bonds on August 1enter an account title to record the issuance of the bonds on August 1	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount

List of Accounts

Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title to record the accrual of interest on December 31, 2017enter an account title to record the accrual of interest on December 31, 2017	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the accrual of interest on December 31, 2017enter an account title to record the accrual of interest on December 31, 2017	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount

List of Accounts

Prepare the journal entry to record the payment of interest on August 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Aug. 1	enter an account title to record the payment of interest on August 1, 2018enter an account title to record the payment of interest on August 1, 2018	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the payment of interest on August 1, 2018enter an account title to record the payment of interest on August 1, 2018	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the payment of interest on August 1, 2018enter an account title to record the payment of interest on August 1, 2018	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount