The balance sheet for Sheridan Consulting reports the following information on July 1, 2020. Long-term liabilities Bonds payable $4,100,000 Less: Discount on bonds payable 164,000 $3,936,000 Sheridan decides to redeem these bonds at 104 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2020. (Credit account titles are automatically indented when am Date Account Titles and Explanation Debit Credit July 1 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT AVTUELur p ayuny amudE EIEER est. Prepare the journal entry to record the redemption on July 1, 202o. (Credit account titles are automatically indented when Date Account Titles and Explanation Debit Credit July 1 Bonds Payable 4,100,000 Loss on Bond Redemption 328,000 Cash 4,264,000 Discount on Bonds Payable 164,000