On January 1, 2024, Sheridan Ltd. issued $480,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Sheridan's year end is December 31. On January 1, 2026, immediately after making and recording the semi-annual interest payment, Sheridan redeemed the bonds. A partial bond amortization schedule is presented below. Semi-Annual Interest Interest Interest Period Payment Expense Amortization Carrying Amount of Bonds Jan. 1, 2024 $459,528 July 1, 2024 12,000 $13,786 $1,786 461,314 Jan. 1, 2025 12,000 13,839 1,839 463,153 July 1, 2025 12,000 13,895 1,895 465,048 Jan. 1, 2026 12,000 13.951 1,951 466,999 (d) Your answer is partially correct. Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100 on January 1, 2026, after payment of interest. (List all debit entries before credit entries. 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 Jan. 1, 2026 Bonds Payable Loss on Bond Redemption Cash eTextbook and Media List of Accounts Save for Later Question Part Score Debit 480000 13001 Credit 49300 Attempts: 1 of 2 used Submit Answer 2/3