Ayayai Co. is building a new hockey arena at a cost of $2,360,000. It received a downpayment of $510,000 from local businesses to support the project, and now needs to borrow $1,850,000 to complete the project. It therefore decides to issue $1,850,000 of 11%, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 10%. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit January 1, 2019 Cash 1963674 Bonds Payable 1850000 Premium on Bonds Payable 113674 (b) Your answer is correct. Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to 0 decimal places, e.g. 38,548.) Cash Paid Interest Expense Premium Amortization Carrying Amount of Bonds $ $ i $ $ 1963674 203500 196367 7133 1956541 203500 195654 7846 1948696 203500 194870 8630 1940065 203500 194007 9493 1930572 Attempts: 1 of 3 used Assume that on July 1, 2022, Ayayai Co. redeems half of the bonds at a cost of $1,014,800 plus accrued interest. Prepare the journal entry to record this redemption. (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.) Date Account Titles and Explanation Debit Credit July 1, 2022 (To record interest) July 1, 2022 (To record reacquisition) Save for Later Attempts: 0 of 3 used Submit