If you can give me explanations that would be helpful, thanks.

The following is taken from the Sandhill Company balance sheet. Sandhill Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 9% due January 1, 2028 Add: Premium on bonds payable $271,800 $3,020,000 212,000 $3,232,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Sandhill uses straight-line amortization for any bond premium or discount. From December 31, 2020, the bonds will be outstanding for an additional 10 years (120 months). Journalize the payment of bond interest on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2021 Prepare the entry to amortize bond premium and to accrue the interest due on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2021 Assume that on January 1, 2022, after paying interest, Sandhill Company calls bonds having a face value of $1,208,000. The call price is 104. Record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 Prepare the adjusting entry at December 31, 2022, to amortize bond premium and to accrue interest on the remaining bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022