Using a Premium Amortization Table (Straight Line) For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7% bonds were sold on January 1, 2024, for $429,000. Premium Period Cash Interest Payment Expense (Credit) (Debit) on Bonds Premium on Bonds Payable Payable (Debit) Balance Carrying Value At issue 29,000 429,000 06/30/24 $14,000 $11,100 $2,900 26,100 426,100 12/31/24 14,000 11,100 2,900 23,200 423,200 06/30/25 14,000 11,100 2,900 20,300 420,300 12/31/25 14,000 11,100 2,900 17,400 417,400 06/30/26 14,000 11,100 2,900 14,500 414,500 12/31/26 14,000 11,100 2,900 11,600 411,600 06/30/27 14,000 11,100 2,900 8,700 408,700 12/31/27 14,000 11,100 2,900 5,800 405,800 06/30/28 14,000 11,100 2,900 2,900 402,900 12/31/28 14,000 11,100 2,900 0 400,000 Required: 1. Prepare the entry to recognize the issuance of the bonds on January 1, 2024. If an amount box does not require an entry, leave it blank. 2024 Jan. 1 429,000 Cash Bonds Payable Premium on Bonds Payable Record issuance of bonds at premium