Pharoah Electric sold $$5,400,000,10\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1,2022,$ and paid interest annually on January $1.$ The bonds were sold at $98.$

$($a$)$

Prepare the journal entry to record the issuance of the bonds on January $1,2022.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

$\backslash$table$[[$Date Account Titles and Explanation$],[$Jan$.],[$eTextbook and Media$],[$List of Accounts$]]$