Sunland Company issues $$2\mathrm{.}8$ million, $20-$year, $7\%$ bonds at $98,$ with interest payable on December $31.$ The straight$-$line method is used to amortize bond discount.

$($a$)$

Prepare the journal entry to record the sale of these bonds on January $1,2025.($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

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List of Accounts