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 Period Payment Interest 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 (e) Prepare the journal entry to record the redemption of the bonds on January 1, 2026, assuming they were redeemed at 97. (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 eTextbook and Media List of Accounts Save for Later Question Part Score Debit Credit Attempts: 0 of 2 used Submit Answer --/3