pls answer

On January 1, 2020, Sheffield Company sold 12% bonds having a maturity value of $700,000 for $811.794 which provides the bondholders with a 8% yield. The bands are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Sheffield Company allocates interest and unamortized discount or premium on the effective-Interest basis. (a) Prepare the journal entry at the date of the bond issuance. (Round answer to O decimal places, eg.38,548. If no entry is required select "No Entry for the account titles and enter for the amounts. Credit occount titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit January 1 2020