Sheridan Company issued $$770,000,9\%,10-$year bonds on December $31,2021,$ for $$700,000.$ Interest is payable annually on December $31.$ Sheridan Company uses the straight$-$line method to amortize bond premium or discount.

$($a$)$

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Prepare the joumal entry to record the issuance of the bonds. fredlit cosoutnt Iites are automatically indented when amount is entered. Do not indent manually.$)$

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$($b$)$

Prepare the journal entry to record the payment of interest and the discount amortization on December $31,2022.($Credit occosunt: titles are cutomatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

DeC

PLEASE ANSWER QUESTION B