Pharoah Company issues $2.80 million, 10-year, 8% bonds at 98, with interest payable each January 1, Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1 Assuming instead that the above bonds sold for 105, prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1