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Sheridan Company sold $$2,400,000,7\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1,2022$ and pay interest annually on January $1.$ Sheridan Company uses the straight$-$line method to amortize bond premium or discount.

$($a$).$

$($b$)$

Your answer is partially correct.

Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for $2022,$ assuming that the bonds are sold at $99.($Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

Date

Jan. $1,2022$

Account Titles and Explanation

Cash

Discount on Bonds Payable

Bonds Payable

Interest Expense

Discount on Bonds Payable

Discount on Bonds Payable

Interest Payable

Debit

Crei

$$

$$

$$

$$

$$

$$

$$

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