Sarasota Corporation sold $2,800,000, 6%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Sarasota Corporation uses the straight-line method to amortize bond premium or discount. Your answer is partially correct Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 105. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 2940000 Premium on Bonds Payable 140000 Bonds Payable 2800000 Dec. 31 Interest Expense Premium on Bonds Payable 28000 Interest Payable e Textbook and Media List of Accounts - Your answer is partially correct. Prepare journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 2660000 Discount on Bonds Payable 140000 Bonds Payable 2000000 Dec. 31 Interest Expense 168000 Discount on Bonds Payable 28000 Interest Payable 140000 eTextbook and Media List of Accounts