CUNTUR ALLempt in progress On January 1, 2024, Sandhill Ltd. issued $495,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Sandhill's year end is December 31. On January 1, 2026 immediately after making and recording the semi-annual interest payment, Sandhill redeemed the bonds. A partial bond amortization schedule is presented below Semi-Annual Interest Interest Interest Period Payment Expense Carrying Amortization Amount of Bonds Jan 1, 2024 $473,888 July 1, 2024 12,375 $14.217 $1.842 475,730 Jan. 1, 2025 12.375 14.272 1897 477,627 July 1, 2025 12,375 14.329 1.954 479,581 Jan 1, 2026 12.375 14.387 2,012 481.593 (c) Your answer is incorrect. Prepare the journal entry to recond the payment of interest on January 1, 2025. (List debit entry before credit entry. 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 O for the amounts) Date Account Titles Jan. 1, 2025 Debit Credit