Sheridan Company issues $$4,500,000,10-$year, $12\%$ bonds at $94,$ with interest payable annually on January $1.$ The straight$-$line

method is used to amortize bond discount.

$($a$)$

Prepare the journal entry to record the sale of these bonds on January $1,2022.($Credit account titles are automatically indented

when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used

$($b$)$

Prepare the adjusting journal entry to record interest expense and bond discount amortization on December $31,2022.($Credit

account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31$