Question 4 of 7 0.54/1 E Kershaw Electric sold $6,000,000, 10%, 15-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on January 1. The bonds were sold at 98. (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan. 1. 2020 e Textbook and Media List of Accounts 0.54/1 (b) Your answer is partially correct. At December 31, 2020, $8,000 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2020. (Enter account name only and do not provide descriptive information.) Kershaw Electric Balance Sheet December 31, 2020 Long-term Liabilities 4 Bonds Payable 6000000 Less Discount on Bonds Payable e Textbook and Media Listle