3 of 3 0//5vdots-=quadvdots On January 1, 2020, Sandhill Company issued 2,260,000,9%,10-year bonds at 2,411,648. This price resulted in a 8% effectiveinterest rate on the bonds. Sandhill uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1. Your answer is incorrect. Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, eg. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) The issuance of the bonds on January 1,2020. (2) Accrual of interest and the amortization of the premium on December 31, 2020. (3) The payment of interest on January 1,2021. (4) Accrual of interest and amor