WALLETVE Sheridan Electric sold $5,285,000, 13%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on January 1. The bonds were sold at 95. (a) Your answer is correct Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Debit Account Titles and Explanation Date Jan. 1. 2020 Cash 5020750 Discount on Bonds Payable 264250 5285000 Bonds Payable e Textbook and Media List of Accounts Attempts: unlimited Your answer is partially correct. At December 31, 2020, $7,700 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2020. (Enter account name only and do not provide descriptive information.) Sheridan Electric Balance Sheet (Partial) December 31, 2020 Long-term Liabilities 5285000 Bonds Payable 237825 $ Less : Discount on Bonds Payable e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit Answer (c) Thirt will be complete the part abow