Current Attempt in Progress When market interest rates were 5%, three

companies issued bonds on January 1, 2024. Each company has a December 31 year end and each company issued bonds with a face value of $290,000 that pay interest annually on December 31. Bramble Limifed sold its bonds at 100 and offered a coupon interest rate of 5%, while Vaughn Corp. sold its bonds at 96 and offered a coupon interest rate of 3%. Sheffield Inc. sold its bonds at 108 and offered a 7% coupon interest rate.

Jan. 1 Cash 278,400 Bonds Payable 278,400 Sheffield Inc. Jan. 1 Cash 313,200 Bonds Payable 313,200 (b) Record the issue of the bonds by each company on January 1, 2024. (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 account titles and enter 0 for the amounts. List all debit entries before credit entries.)