Kingbird, Inc. issues $2.40 million, 10-year, 8% bonds at 97 , with interest payable on December 31 . The straight-line method is used to amortize bond discount. (a) Your answer is partially correct. Prepare the journal entry to record the sale of these 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 0 for the amounts.)