Exercise 14-10 (Part Level Submission) On January 1, 2017, Sandhill Company sold 12% bonds having a maturity value of $600,000 for $695,823, which provides the bondholders with a 8% yield. The bonds are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 of each year. Sandhill Company allocates interest and unamortized discount or premium on the effective-interest basis w (a) Your answer is correct. Prepare the journal entry at the date of the bond issuance. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) unt Titles and Explanation Debit Credit Date January 1, 201 Cash 695823 T T Bonds Payable 600000 T T Premium on Bonds Paya 95823 Click if you would like to Show Work for this question Open Show Work