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Sandhill Co . Sold $ 5 , 6 0 0 , 0 0 0 , 7 % , 1 5 - year bonds on January

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Sandhill Co. Sold $5,600,000,7%,15-year bonds on January 12025. The bonds were dated January 1,2025 and pay interest on December 31. The bonds were sold at 97. At January 1,2027, when the carrying value of the bonds was $5,454,400, the company redeemed the bonds at 104. Record the redemption of the bonds assuming that interest for the year had already been paid.
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