Sandhill Company issues $$2,000,000,10-$year, $6\%$ bonds at $94,$ with interest payable each January $1.$

$($a$)$

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.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$