Sheffield Corporation issued $450.000,7%. 20-year bonds on January 1, 2022. for $405.820. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1 Sheffield uses the effective interest method to amortize bond premium or discount. Prepare the schedule using effective interest method to amortize bond premium or discount of Sheffield. (Round answers to decimal places, eg. 5,275.) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value Issue date $ $ $ 2 e Textbook and Media List of Accounts Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatkally indented when amount is entered. Do not indent manually) Date Credit Debit Account Titles and Explanation Jan. 1.2022 Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do Date Account Titles and Explanation Debit Credit Jan. 1, 2022 e Textbook and Media List of Accounts Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2022. (Credit account titles are Date Account Titles and Explanation Debit Credit Dec. 31, 2022 Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amour Date Account Titles and Explanation Debit Credit Jan. 1.2023