Question 1 Kershaw Electric sold $4.660 000, 13% 10-year bonds on January 1, 2017. The bonds were dated january 1, 2017, and paid interest on an ay t The bonds were sold at 96. Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Jan. 1, 2017 LIST OF ACCOUNTS At December 31, 2017, $7,900 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2017. (Enter account name only and do not provide descriptive information.) Kershaw Electric Balance Sheet (Partlal)