Sheridan Products Ltd$.$ issued bonds and received proceeds of $$53,124,565.$ The bonds mature in $13$ years and carry a $8\%$ interest rate paid semi$-$annually. The bonds were issued at a price of $95\mathrm{.}035$ to yield $8\mathrm{.}643\%.$

$($a$)$

Show the journal entry to record the issuance of the bonds. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit