CALCULATOR PRINTER VERSION 4 BACK NEX On June 30, 2020, Sheffield Company issued $3,493,000 face value of 1496, 20-vear bonds at $4.018,560, a yield of 12%. Sheffield uses the effective interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to o decimal places, e.g. 38,548. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually.) (1) The issuance of the bonds on June 30, 2020. (2) The payment of interest and the amortization of the premium on December 31, 2020 (3) The payment of interest and the amortization of the premium on June 30, 2021. (4) The payment of interest and the amortization of the premium on December 31, 2021. Account Titles and Explanation No. Date (1) June 30, 2020 Debit Credit Cash 4,018,560 Bonds Payable 3,493,000 Premium on Bonds Pay (2) December 31, 2020 Interest Expense 525,560 Premium on Bonds Payabl Cash (3) June 30, 2021 Interest Expense Premium on Bonds Payable (4) December 31, 2021 Interest Expense to search o !! 3 4 % 5 6 7 00 9