On October 1, 2024 Sheridan Corporation issued 5%, 10-year bonds with a face value of $7960000 at 104. Interest is paid on October 1 and April 1, with any premium or discount amortized on a straight-line basis. The entry to record the issuance of the bonds would include a O credit of $7641600 to Bonds Payable. O credit of $318400 to Premium on Bonds Payable. O debit of $318400 to Discount on Bonds Payable. O credit of $199000 to Interest Payable.

On October 1, 2024 Sheridan Corporation issued 5%,10-year bonds with a face value of $7960000 at 104 . Interest is paid on October 1 and April 1, with any premium or discount amortized on a straight-line basis. The entry to record the issuance of the bonds would include a credit of $7641600 to Bonds Payable. credit of $318400 to Premium on Bonds Payable. debit of $318400 to Discount on Bonds Payable. credit of $199000 to Interest Payable