Splish Brothers Inc. sold $4,200,000, 5%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Splish Brothers Inc. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 102. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1, 2022 Cash Premium on Bonds Payable Bonds Payable Debit 4284000 Credit 84000 4200000