Sunland Electric sold $6,960,000,10%,10-year bonds on January 1, 2022. The bonds were dated January 1.2022, and paid interest annually on January 1. The bonds were sold at 98. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are outomatically indented when amount is entered, Do not indent manually.) At December 31,2022,513,920 of the Discount on Bonds Payable account has been amortized. Show the balance sheet. presentation of the longt term liability at December 31, 2022. (Enter account name only and do not provide descriptive information) On January 1, 2024, when the carrying value of the bonds was $6,848,640, the eompany redeemed the bonds at 102 Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit occount titles are automotically indented when amount is entered. Do not indent manually