Please use the same format above

List to use

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation-Buildings
• Accumulated Depreciation-Equipment
• Allowance for Doubtful Accounts
• Bad Debt Expense
• Bonds Payable
• Buildings
• Cash
• Cash Dividends
• Common Stock
• Depreciation Expense
• Discount on Bonds Payable
• Dividends Payable
• Equipment
• Gain on Bond Redemption
• Interest Expense
• Interest Payable
• Inventory
• Land
• Lease Liability
• Leased Asset-Equipment
• Loss on Bond Redemption
• Mortgage Payable
• Notes Payable
• Other Operating Expenses
• Paid-in Capital in Excess of Par-Common Stock
• Paid-in Capital in Excess of Par-Preferred Stock
• Preferred Stock
• Premium on Bonds Payable
• Rent Expense
• Rent Revenue
• Retained Earnings
• Right-of-Use-Asset
• Salaries and Wages Expense
• Salaries and Wages Payable
• Sales Revenue
• Treasury Stock
• Unearned Rent Revenue

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. (a) 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 Debit Credit Jan. 1, 2022 1 At December 31, 2022, $13,920 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2022. (Enter account name only and do not provide descriptive information.) Sunland Electric Balance Sheet (Partial) $ $ On January 1, 2024, when the carrying value of the bonds was $6,848,640, the company redeemed the bonds at 102. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2024