On January 1, 2025 Sheridan Incorporated issues 8% convertible debentures with a face value of $1,000,000. The bonds have a five year term. Interest is payable semi- annually on June 30 and December 31. The debentures are convertible at the investor's option at the rate of 20 common shares for each $1,000 bond at any time after Dec 31, 2027. The market rate of interest for the nonconvertible bonds of similar risk and maturity is 10%. The net proceeds received by Sheridan amounted to $1,250,000. PLEASE COMPLETE THE FOLLOWING 1) Record the issuance of bonds on January 1, 2025 2) Prepare the journal entries for interest expense on June 30, 2025 and Dec 31, 2025. Sheridan Ltd. uses the effective interest amortization for bond premium and discount. 3) Indicate how all amounts relating to the bonds will show on Sheridan's financial position and statement of comprehensive income for the year ending Dec 31, 2025.