Ayayai, Inc. had outstanding $$5460000$ of $11\%$ bonds $($interest payable July $31$ and January $31)$ due in $10$ years. On July $1,$ it issued $$9750000$ of $10\%,15-$year bonds $($interest payable July $1$ and January $1)$ at $97.$ A paortion of the proceeds was used to call the $11\%$ bonds $($with unamortized discount of $$109200)$ at $102$ on August $1.$ Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds.