The balance sheet for Sheridan Company reports the following information on July 1,2025. Sheridan decides to redeem these bonds at 103 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2025. (List all debit entries before credit entries. 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.)