On January 1, 2021, Headlands Ltd. issued bonds with a maturity value of $4.80 million for $4,605,120, when the market rate of interest was 8%. The bonds have a contractual interest rate of 7% and mature on January 1, 2026. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. On January 1, 2021, Sheridan Company, a public company, purchased Headlands Ltd. bonds with a maturity value of $0.96 million to earn interest. On December 31, 2021, the bonds were trading at 97. Both companies' year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) Your answer is correct. What amount did Sheridan Company pay for Headlands Ltd's bonds? (Round answer to 0 decimal places, e.g. 5,275.) Sheridan Company paid $ 921024 Prepare a bond amortization schedule for Sheridan Company for the first four interest periods. (Round answers to O decimal places, e.g. 5,275.) Bond Discount Amortization Table Effective Interest Method-Semi-annual Interest Payments 7% Bonds Issued at market rate of 8% (B) (A) Interest Received (C) Discount Amortization (D) Bond Amortized Cost Interest Revenue $ $ 921024 32236 $ $ 36841 $ 4605 925629 32236 36657 4421 930050 32236 37202 4966 935016 32236 37401 5165 940181