Sandhill, Inc. had outstanding $6,200,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,650,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 11% bonds (with unamortized discount of $124,000) at 102 on August 1. Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds. (Record entries in the order displayed in the problem statement. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Sandhill, Inc had outstanding $6,200,000 of 1135 bonds (interest payable July 31 and January 31 due in 10 years On Nly 2 it bsued $9,650,000 of 10%,15 vear bonds linterest payable July 1 and January 1 at 98 . A portion of the proceeds was ided to call the 11K bonds (with unamortized discount of $124,000) at 102 on Aupust 1. Prepare the journal entries necessary to record ssue of the now bonds ind the refunding of the bonds fhecont entries in the onder displayed in the probiem statement. If no entry la requirnd, select "No Eniry" for the account bites and enter ofor the ansoints Credit acrount tities are outomatically indented when the anoust is entered Do not indent manialiy list all debit entries before ondit entrias) displayed in the problem statement. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)