Sandhill Co. issued $445,000, 15-year, 6% bonds at 97.

(a)

Prepare a tabular summary to record the sale of these bonds on January 1, 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

	Assets	=	Liabilities			+	Stockholders Equity
							Pd. in Cap.	+	Retained Earnings
	Cash	=	Bonds Pay.	+	Disc. on Bonds Pay.	+	Common Stock	+	Revenue	-	Expense	-	Dividend
Jan.1