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Cheyenne Corp. sold $6,800,000, 15%, 15-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest each December 31.

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Cheyenne Corp. sold $6,800,000, 15%, 15-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest each December 31. The bonds were sold at 97. (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1, 2022 Debit Credit

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