Sunland, Inc. had outstanding $5.820,000 of 10% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9.240,000 of 11%, 15-year bonds (interest payable July 1 and January 1) at 98.A portion of the proceeds was used to call the 10% bonds (with unamortized discount of $58,200) at 101 on August 1. Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds. (Round answers to 0 decimal places, e.g. 38,548. 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 amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date July 1 (To record issuance of 11% bonds) August 1 (To record retirement of 10% bonds)