Would you please show solution for this question (B) for [ Add : Premium on bonds payable ] please?

please explain from where and how to solve this.. Thank you!!

Problem 15-2A Asquith Electric sold $531,000, 12%, 10-year bonds on January 1, 2014. The bonds were dated January 1 and paid interest on January 1 and July 1. The bonds were sold at 105. Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2014 Cash 557550 T Bonds Payable 531000 T i Premium on Bonds Paya 26550