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only need help on (c) On January 1,2025, Sheridan Corporation...

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Accounting

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On January 1,2025, Sheridan Corporation issued $2,219,000 face value, 7%,10-year bonds for proceeds of $2,561,691. This price resulted in an effective-interest fate of 5% on the bonds. The bonds pay annual inter test, each January 1 and Sheridan has a cilendar yearend. (a) Prepare the journal entry to record the issue of the bonds on January 1, 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually, if no entry is required, select "No Entry' for the occount bitles and enter O for the amounts. Ust debit entry before credlt entry) Prepare the journal entry to record the accitial of interest and the amortization of the premium on December 31, 2025. (Credit account titles are automatically indented whon the omount ts entured, Do not indent manuolly if no entry is required, select "No Entry" for the account titles and enter O for the amounts. (ist alf debit eniries before credit entries.)

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